Patisserie Holdings, the owner of Patisserie Valerie, is preparing to tap shareholders in a move to buy the company behind the Gail’s Bakery chain.
Patisserie, which two months ago revealed it was interested in the 40-shop business, is drawing up plans for a £35m placing, Sky News reported.
Luke Johnson, chairman of Patisserie, is also a shareholder in Gail’s parent Bread Holdings, so is standing back from negotiations. Bread is valued at around £150m. Its sales rose by £15m to £79m in the year to February.
Click here for the full Times article (£)
