Côte brasserie chain sold to CBPE Capital

12 September 2013 by
Côte brasserie chain sold to CBPE Capital

The Côte brasserie chain has been sold to private equity group CBPE Capital, in a deal which values the company at around £100m.

Restaurant entrepreneur Richard Caring has sold his majority stake in the 45-strong outlet business, which was founded with his backing by Andy Bassadone, Chris Benians and Nick Fiddler in 2007.

The business has gone on to establish a name for itself serving simple, freshly prepared French food at reasonable prices.

CBPE said that it is giving its full support to Côte's current management team, led by Harald Samuelsson and Alex Scrimgeour, to grow the business.

The company has previously invested in a range of healthcare, financial and chemical companies. While Côte will be its first restaurant investment, CBPE has previously backed other leisure businesses involving ten-pin bowling alleys and caravan parks.

Scrimgeour, joint managing director of Côte, said that CBPE is "the right partner" to help us grow the business further. "Côte has been successful because we offer a great eating out experience; we source quality products and we are always striving to get dishes just right, while keeping prices reasonable for our customers," he explained. "CBPE understand this commitment and we look forward to working with them as Côte continues to expand and evolve."

Ian Moore, partner at CBPE, said: "We have known the Côte team for a number of years and we are delighted to be making this investment.

"Harald, Alex and the rest of the management team have an uncompromising dedication to quality and a proven track record of growing successful restaurant businesses. We are looking forward to working with them to facilitate Côte's measured growth plans over the coming years."

New potential buyer makes bid for Richard Caring's Côte chain >>

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