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Business Growth Fund invests £6.25m in restaurant group Peyton and Byrne

3 Dec 2012

UK SME investor the Business Growth Fund (BGF) has bought a £6.25m minority stake in London-based Peyton and Byrne, the restaurant, retail bakery and events business.

Peyton and Byrne currently operates restaurants at eight London visitor attractions including The National Gallery, the Royal Academy of Arts and Kew Gardens.

In addition, Peyton Events provides catering for private functions at twenty venues in London such as The Wallace Collection and Lancaster House.

It also runs retail bakery and café outlets in central London locations offering a modern take on British baking traditions.

The business was founded in 2005 by restaurateur Oliver Peyton along with his sister Siobhan Peyton, who holds the role of CEO.

Oliver entered the restaurant trade in the early nineties when he opened the Atlantic Bar & Grill.

In 2012 Peyton and Byrne delivered nearly £20m of revenues.

BGF’s £6.25m investment will help accelerate the company’s roll-out programme of high-street retail bakeries over the next four years and facilitate new restaurant launches, it said.

In addition to funding, BGF has contributed additional support to the company through the introduction of Mike Johnson as non-executive chairman.

Mike is the former managing director of the corporate services and leisure division at Sodexo UK and was the CEO of Whitbread’s restaurant division which included the Costa, TGI Fridays and Cafe Rouge brands.

BGF will take a minority stake in Peyton and Byrne and Alistair Brew will join the board. The investment represents BGF’s fifth investment in a London based business and its third investment in the leisure and hospitality sector.

Alistair Brew, investment director for BGF, said, “In Oliver, Siobhan and the team you have a fantastic mix of people who are extremely passionate not only about a business they have grown over the past seven years and the brand associated with it, but also about delivering great food and service at some of London’s most iconic venues.

“A large part of Peyton and Byrne’s growth will come from expanding the portfolio of bakery sites and restaurants and we felt that BGF’s mix of patient growth capital and desire to provide additional help and expertise across the business was an ideal fit for the company.

“With the injection of funding, a strengthened management team and multiple growth drivers across all areas of the business, we look forward to being part of an exciting and growing brand in the UK.”

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