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Mystery bidder for Carluccio's revealed as private equity firm

18 May 2009 by
Mystery bidder for Carluccio's revealed as private equity firm

Private equity firm Hutton Collins has been revealed as the mystery suitor for the Carluccio's restaurant chain.

A report in The Times says the firm, which has previously backed the likes of PizzaExpress and Loch Fyne, has been working on plans to take the Alternative Investment Market-listed company private for several weeks.

Carluccio's floated in 2005, allowing founders Antonio Carluccio and wife Priscilla to sell their stake in the company for around £11m.

Carluccio's first store in the Middle East opened in Dubai during March 2009, and the company added it was encouraged by the early customer response.

The company confirmed it has 57,467,660 ordinary shares priced at 5p each in issue on AIM earlier this month when it announced to the stock market that it had received an approach from an, at the time, unnamed suitor.

Carluccio's will publish its interim results tomorrow.

Mystery suitor makes approach for Carluccio's >>
Caring eyes up Carluccio's (Kitchen Rat) >>

Private equity in the hospitality industry >>

By Chris Druce

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