Le Bistrot Pierre secures £9.8m for expansion

Restaurant group Le Bistrot Pierre has secured a £9.8m investment from private equity firm Livingbridge, as it aims to expand further across the UK.

The company, which has 14 restaurants across the country, was founded in Nottingham in 1994 by school friends Robert Beacham and John Whitehead.

It reported record revenues of £18m and profits in excess of £2m in 2015, and said the investment from Livingbridge would be used to accelerate its restaurant roll-out plans and "optimise" its existing estate.

Co-managing director of Bistrot Pierre John Whitehead said: "We are excited by Livingbridge's endorsement of our business and with their investment look forward to expanding our estate and opening more successful bistrots. The whole process leading up to the deal has been smooth and we are now relishing the new years of growth with our partners."

The company opened new Bistrot Pierre sites in Bath and Newport in the last six months and is planning two more locations in Birmingham and Swansea in 2016.

It is Livingbridge's second deal in the restaurant sector, having invested in Vietnamese restaurant chain Pho in 2012.

The Bistrot Pierre transaction was led by Benoit Broch, Nick Holt and Oliver Mauldridge from Livingbridge's London office. Bistrot Pierre was advised by Altium and PKF Cooper Parry.

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