The Caterer

Patisserie Valerie moves closer to 50 sites

20 September 2011 by
Patisserie Valerie moves closer to 50 sites

Patisserie Valerie has moved closer to 50 outlets, after the upmarket café operator acquired a new site in Hove, East Sussex.

The deal, brokered by Davis Coffer Lyons, sees the firm take the ground floor on a four-storey building from former occupier, Brighton-based restaurant and coffee shop the Real Eating Company, which is rationalising its portfolio to focus on its café and deli business.

A premium was paid for the assignment of the 15-year lease, which runs from August 2003, at a passing rent of £37,000 per annum exclusive.

Patisserie Valerie is also set to open a further site at Birmingham Pavillions shortly. It has grown its number of sites by 50% in the past 12 months and is now operating almost 50 stores in England.

Patisserie Valerie's owner, Patisserie Holdings, is backed by Luke Johnson's Risk Capital Partners.

Luke Johnson acquires majority stake in Ego Group >>

Luke Johnson acquires another patisserie chain >>

Patisserie Holdings plans rapid expansion >>

By Neil Gerrard

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