Sale of upmarket burger chain Byron called off
The sale of upmarket burger chain Byron is believed to have stalled after the company failed to attract the asking price of around £100m.
The Gondola Group, which also owns Pizza Express, Ask and Zizzi, has withdrawn Byron from sale, according to The Times, and will now concentrate on expanding the business, which now has 34 outlets across the UK with around 45 planned in total by the end of the year.
Gondola, which is owned by private equity firm Cinven, is believed to have received interest from prospective buyers including RIT Capital, TDR Capital and Searchlight Capital.
Byron was launched in 2007 by Tom Byng, who intended to replicate the simple, high quality burgers he had enjoyed in the USA. He continues to run the company today.
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