D&D London puts restaurants up for sale to fund future expansion
D&D London has puts its 30-strong restaurant portfolio up for sale as the group seeks new investment to fund future expansion.
The company, which was formerly known as Conran Restaurants and operates restaurants including Quaglino's, Launceston Place and Orrery, could be worth as much as £100m, according to a report in the Financial Times.
D&D London is owned 51% by Sir Terence Conran and 18% by Cared Capital, who are now understood to be looking to sell their shares in the business.
It is understood that chairman and chief executive Des Gunewardena and managing director David Loewie will expect to remain at the helm of the group under the new ownership.
The company, which also runs Skylon, Bluebird and Plateau, hopes to significantly grow its portfolio both in the UK and overseas, where it currently operates restaurants in Copenhagen, Paris, New York and Tokyo.
Gunewardena and Loewi relaunched Conran Restaurants as D&D London in spring 2007 following a management buyout of 49% from Conran Holdings.
The group will expand its offering in the City this summer by opening its first hotel at South Place, which will include 80 bedrooms, meeting and private dining facilities and a rooftop restaurant. It will also open two new restaurants in the City: a steak/chop house and a fish restaurant, as well as a wine shop, at the Grade II-listed Old Bengal Warehouse off Bishopsgate.
In 2013, D&D London will expand outside the capital with the launch of two restaurants at the Trinity Leeds shopping and leisure development in the heart of Leeds.
D&D London continues to grow despite fragile economy >>
D&D London to open two new restaurants in the City >>
Conran Restaurants starts a new life as D&D London >>
By Kerstin Kühn
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