News
Cavendish advises on the sale of the Ma Potter's restaurant group
27 February 2007Cavendish Corporate Finance is pleased to announce the sale of the Ma Potter's restaurant group to Tragus Limited, one of the largest mid-market restaurant chain operators in the UK, in a deal worth £14.15 million.
The sale will include all of the 15 high street and shopping centre sites in the Ma Potter's group. The sites are located in city centres throughout the UK. Established in 1995, Ma Potter's trades under two names, Ma Potter's Chargrill Restaurants - a traditional family-friendly concept, and M.A Potter's Bar and Restaurant, a more modern spin on the original formula. Restaurants are usually located in high footfall locations such as The Trafford Centre, Meadowhall and The Oracle in Reading. It is anticipated that a number of the Ma Potter's sites will now be converted to Tragus's key brands, Café Rouge and Bella Italia.
Commenting on the transaction, [Jonathan Buxton], lead Director on the deal, said : ''Ma Potter's is an exciting business and this was clearly evidenced in the deal. We moved from heads of terms to signing the deal in one week''.
John Gater, CEO of Ma Potter ' s commented: "Cavendish Corporate Finance were very supportive throughout the transaction, giving useful advice at a number of critical stages of the process. The shareholders were delighted with the final price achieved and especially that the eventual transaction was completed within 10 days of agreeing terms with Tragus."
Cavendish contacts for further information:
[Jonathan Buxton], Director