Gail’s homeowners bake plan on the market after speedy progress

Mar 24, 2024 at 8:26 PM

The homeowners of Gail’s, the chain of bakeries and low outlets, are making ready to rent advisers for a sale that may worth it at properly over the £200m price ticket at which it modified arms practically three years in the past.

Sky News understands that Bain Capital Credit and EBITDA Investments, a fund backed by serial restaurant investor Henry McGovern, are drawing up plans to nominate bankers, doubtlessly earlier than the top of this 12 months.

Gail’s, which can also be part-owned by Luke Johnson, the previous Channel 4 chairman and distinguished entrepreneur, has grown quickly in recent times.

Part of Bread Holdings, its sister firm, The Bread Factory, is a number one unbiased bread producer supplying premium clients and supermarkets.

The group modified arms in September 2021 in a transaction valued at greater than £200m.

At the time, Gail’s had simply over 70 bakeries buying and selling throughout the nation, with that determine now standing at greater than 100.

Although concentrated in London, it now has websites in areas resembling Brighton and Oxford.

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Sources stated a proper sale course of was unlikely to happen till subsequent 12 months.

Mr Johnson’s Risk Capital Partners initially partnered with Gail’s co-founder and chief government, Tom Molnar, in 2011.

Bain Capital declined to remark, as did Mr Johnson.