Argentine steak-house operator Gaucho Grill has confirmed a £125m buyout led by founder Zeev Godik, according to reports today.

The company has been locked in talks with mezzanine finance house Independent Capital Group, however this buyout marks a £15m premium above the £110m it sought through a stock market flotation abandoned in November.

Gaucho Grill abandoned its flotation plans with observers citing “highly volatile stock- market conditions” before profit warnings from casual dining operators Clapham House Group and Regent Inns affected confidence in restaurant stocks.

The Argentine themed chain operates 11 restaurants around the world including nine in London, one in Manchester and its original site in Amsterdam.

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By Christopher Walton

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