NBGI Buys Food & Drink Assets

NBGI Private Equity, a UK lower mid-market private equity firm, has officially announced the buyout of selected assets from Food & Drink Group, a bars and restaurants group which went into administration having broken its banking covenants earlier in August.


No terms were disclosed for the purchase of a portfolio of 17 branded and unbranded managed sites with a geographic focus on London, along with 17 franchise sites under the Henry J Bean brand, including two within Hilton Hotels and 15 international sites.

Debt for the transaction was provided by Barclays. NBGI Private Equity was advised by Berwin Leighton Paiser and Baker Tilly, which provided financial due diligence, while commercial due diligence provided by Pragma.


NBGI Private Equity has installed Nick Tamblyn, creator of the Tiger Tiger bar concept and brand as well as West End bars On Anon, Digress and The Langley and chief executive of Chorion, as chief executive. Nick Gibbons of NBGI Private Equity will also join the board.


Source: Thomson Merger News