Upmarket burger chain Byron, which is widely thought to be up for sale, could be worth as much as £120m according to reports.
The Sunday Telegraph reported that DC Advisory, which is in charge of the sale of the Gondola Holdings-owned business gave the valuation to potential buyers, based on recent results and future earnings.
The calculations are based on Bryon's earnings before interest, tax, depreciation and amortisation (EBITDA), rumoured to be around £10-£12m.
Gondola owns Pizza Express and Zizzi, and is itself owned by private equity house Cinven. Byron is expected to attract another private equity buyer.
Byron, which was founded in 2007, has 29 restaurants.
By Neil Gerrard
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