Patisserie Holdings, the Luke Johnson-backed patisserie chain, is planning to expand rapidly, opening a minimum of 10 outlets per year over the next three years, Caterersearch can reveal.
The company, which currently operates 55 outlets, is aiming to roll out from its dual heartlands of London and the Midlands and create the UK's first nationwide patisserie and tea shop chain since the demise of the Joe Lyons Corner Houses in the 1970s.
Patisserie Holdings operates two brands - London-based Patisserie Valerie and Midlands-centred Druckers Vienna Patisserie. It wants to extend the brands into the Home Counties and areas outside the south-east respectively.
Paul May, managing director of Patisserie Holdings, said: "There is a lot of territory to cover if we are to meet our ambitious targets. Being mostly in central London Patisserie Valerie is the most concentrated, while Druckers had a strong following in the Midlands. Yet the key is to find the strongest sites within our target list of towns."
Risk Capital Partners, the private equity fund chaired by Luke Johnson, purchased Druckers Vienna Patisserie in May 2007 before combining it with Patisserie Valerie - which was acquired in September 2006 - to form Patisserie Holdings.
Druckers Vienna Patisserie is the larger of the two brands, with 42 sites nationwide, compared to 13 for Patisserie Valerie. Forecast turnover for 2007-08 is more than £30m.
By Daniel Thomas
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