Celebrity chef Gordon Ramsey has appointed BDO to search for minority investors to fund the expansion of his Gordon Ramsey Group of restaurants.
Ramsey is believed to want to retain the lion’s share of the business, which has been initially valued at £80m, and a stock market flotation has been ruled out.
GRG, which is owned by Ramsey’s holding company Kavalake, operates 24 restaurants around the world with 12 in London. It is believed he wants to keep the focus on London, but expand further internationally.
Last year GRG made a pre-tax loss of £6.36m off £46.4m sales, but that was after £9m of exceptional items, including £2.2m legal costs and a £6.7m provision related to the lease of the York & Albany restaurant and hotel in Camden, London.
Daily Telegraph Business, 3
