The private equity owners of Gail’s, the upmarket bakery and coffee shop chain, are making preparations to sell the business in a deal valuing it at over £200 million, Sky News reports.
Bain Capital Credit and EBITDA Investments, backed by restaurant investor Henry McGovern, are lining up banks to handle an auction after buying Gail’s for more than £200m in 2021.
At that time Gail’s had just over 70 sites across the UK. It has since expanded rapidly to over 100 bakeries, including openings in cities like Brighton and Oxford alongside its London heartland.
Former Channel 4 chairman Luke Johnson remains a shareholder through his Risk Capital Partners firm, which first invested in Gail’s in 2011 alongside founder Tom Molnar.
A formal sale process is not expected until 2025 but owners are getting preparations underway.
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