Comptoir Group raises £8m to fund restaurant roll out
Comptoir Group, the Middle Eastern restaurant chain, is to invest £8m into expanding its Comptoir Libanais restaurant portfolio, following a stock market flotation of the company this week.
In the listing document the company said it plans to open 50 restaurants in the next five years and "at least eight Comptoir Libanais restaurants during the next 18 months."
The company, which was founded by Algerian Tony Kitous in 2008, is also planning to expand its franchise and concession agreements in the UK and overseas, as well as a roll out of its Shawa restaurants, according to the document.
This is the second stage of the company's expansion strategy, which has seen it open 10 Comptoir Libanais restaurants since 2010 when Kitous took on chief executive Chaker Hanna to help grow the business. Prezzo and Chimichanga founder Jonathan Kaye is also on the board as a non-executive director.
The company currently operates eight Comptoir Libanais restaurants in London and one in Manchester. The restaurants offer Eastern Mediterranean food in a Middle Eastern café culture ambience. Two more restaurant openings are planned this year in Exeter and Leeds.
Another two restaurants, located at Heathrow and Gatwick airports, are operated as franchises by the Restaurant Group, under a franchise agreement sealed in 2013.
The business also owns two Lebanese and Eastern Mediterranean restaurants under the Shawa brand and the high-end Kenza and Levant restaurants in central London.
Announcing the listing, Hanna, said: "Today marked an important milestone. Our listing provides us with the platform to accelerate the growth of the business, allowing us to bring our fresh, healthy Lebanese dining experience to many more people across the UK."
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