Search
The Caterer

Tchenguiz in £200m swoop for Yates

22 April 2005 by
Tchenguiz in £200m swoop for Yates

Laurel Pub Company owner Robert Tchenguiz is planning a £200m bid for high-street rival Yates Group.

The property tycoon is consulting lawyers before tabling a formal bid for the company in the next few weeks. An offer of this value is likely to be too good to refuse for Yates owner GI Partners, which paid £160m last summer to take the company private.

Successful integration of the Yates and Laurel estates would create a high-street operator with 320 sites.

A spokesman for Tchenguiz's investment company R20 declined to comment.

Yates is currently in talks to buy struggling SFI Group, and has tabled a bid valued at between £60m and £75m. Ironically, its main challenger for the company is thought to be Tchenguiz.

Source: Caterer & Hotelkeeper magazine, 212 April 2005

The Caterer Breakfast Briefing Email

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

Sign Up and manage your preferences below

Thank you

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