Ed's Easy Diner, the US-style burger chain, has been sold by the Margolis family to property investment firm Rankdale.
The group, which operates outlets in London's Soho and the Trocadero Centre and the Bluewater Shopping Centre in Kent, has changed hands for an undisclosed sum.
Founded in London by Barry Margolis in 1987, the business has been held in trust for the benefit of his family since his death in 2005.
Rankvale has appointed former Ponti's managing director Peter Featherman as chief executive of Ed's, while former Gourmet Holdings managing director Andrew Guy joins the board as non-executive director.
"We are delighted to complete the acquisition of this much loved brand and look forward to working with the existing loyal staff to expand the business," Featherman said.
"I am also pleased that Andrew Guy, a well known figure in the industry, has agreed to join the board as a non-executive director."
Stephen Greene, executive chairman of Rankvale and now chairman of Ed's, added: "This is our first direct investment into an operating company, and we are confident that the mix of skills of the new expanded board, together with the strength of the brand and the professionalism of the Ed's staff, will enable the business to grow into a major player in the sector."
Mark Sheehan, managing director of property agent Coffer Corporate Leisure, which handled the sale on behalf of the Margolis family, said it had several offers from private equity buyers attracted by the "undoubted roll out potential" of Ed's.
By Daniel Thomas
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