Madison says talks on £6.75m acquisition are going well

21 June 2004 by
Madison says talks on £6.75m acquisition are going well

Former coffee bar operator Madisons Coffee said today that its talks to buy restaurant chain Bel and the Dragon were "proceeding satisfactorily".

It added that if the deal comes off, the company would expect to pay about £6.75m for the chain.

The company, which also today confirmed its change of name to Gourmet Holdings, hopes to make a further announcement about the possible takeover shortly.

It said trading since 11 January, the second half of its financial year, had continued to be satisfacory.

Results for the full year, ending on 27 June, would "moderately exceed the market's expectation".

The change of name is to reflect the fact that the group has now sold off its coffee bars to concentrate on restaurants, including its Richoux chain.

Buy this week's Caterer magazine for more industry news and analysis

The Caterer Breakfast Briefing Email

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

Sign Up and manage your preferences below

Check mark icon
Thank you

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

Jacobs Media 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.

close

Ad Blocker detected

We have noticed you are using an adblocker and – although we support freedom of choice – we would like to ask you to enable ads on our site. They are an important revenue source which supports free access of our website's content, especially during the COVID-19 crisis.

trade tracker pixel tracking