Search
The Caterer

Groupe Chez Gérard shapes up for management buyout

18 October 2004
Groupe Chez Gérard shapes up for management buyout

Paramount - the owner of the Groupe Chez Gérard restaurant business - confirmed last week that it was in talks with executive chairman Guy Naggar that could lead to a buyout worth £28m.

Craftbutton, a company owned by Naggar and business partner Peter Klimt, informed the stockmarket it was in discussions with Paramount that could result in a 35p-a-share bid.

Paramount confirmed that Naggar and Klimt were in talks with the company earlier this year in June.

Craftbutton has a 25% stake in Paramount and has gained support from 40.79% of the company's shareholding. However, this will lapse if an offer is not announced by 26 November.

Paramount has turned the group's fortunes around and is currently testing spin-offs of its Chez Gérard and Bertorelli brands.

The Caterer Breakfast Briefing Email

Start the working day with The Caterer’s free breakfast briefing email

Sign Up and manage your preferences below

Thank you

You have successfully signed up for the Caterer Breakfast Briefing Email and will hear from us soon!

Jacobs Media Group is honoured to be the recipient of the 2020 Queen's Award for Enterprise.

The highest official awards for UK businesses since being established by royal warrant in 1965. Read more.