20/04/2021
Leon sold to EG Group for £100m
20-Apr-2021 at 07:55
We sourced the the first Leon premises in Carnaby with Jonathan Moradoff (DCL) 17 years ago !
Founded by John Vincent, Henry Dimbleby and Allegra McEvedy in 2004, Leon was one of if not the first branded restaurant concept to put its customer’s health and wellbeing at the very heart of its offering.
The trio stand to make a significant amount of cash from the deal, with Vincent owning 15% of Leon and the other two founders holding 15% between them.
Leon was majority-owned by two private equity firms, Active Partners and Spice Private Equity.
The acquisition of Leon sees EG Group - which also owns Asda - further strengthen its presence in foodservice.
The EG Group will invest in Leon and open a further 20 Leon sites per year from 2022, while developing its non-restaurant products across its convenience retail proposition.
The group, led by the Issa brothers, operates more than 700 foodservice outlets in the UK & Ireland of which 310 operate from standalone premises.
EG Group operates sites for a number of third-party brands, including Starbucks, KFC, Burger King, Greggs, Sbarro, Cinnabon and Subway.
The Issas said the acquisition presents an opportunity to develop the menu offer, the various concession formats including drive thrus, and build on the existing network by exploring opportunities across its own estate.
“In some ways this is a sad day for me, to part company with the business I founded 17 years ago in Carnaby Street. But I have had the pleasure of getting to know Mohsin and Zuber across the last few years,” says Vincent, who will leave the brand as part of the deal.
Congratulations all round.