Caffè Concerto chain ‘placed on the market’ – Propel
Halal-friendly restaurant chain Caffè Concerto has been placed on the market, hospitality news portal Propel has just reported.
Lux Management & Investments Group has reportedly appointed FRP Corporate Finance with the sales task which, Propel adds, is “likely to include the international sites” in addition to those in the UK.
Known for its plush interior and European-style cuisine, the brand has 25 restaurants in total – 19 in the UK (18 in London and one in Birmingham), and six in the Middle East.
While Halal options are available at all Caffè Concerto UK restaurants, FtLion has been told that there are non-Halal ingredients on the menu including bacon and sausage; but which are prepped and cooked separately, with no alcohol used as a cooking ingredient.
Propel says it further understands that ” the business has no bank debt and is continuing to trade ‘extremely well'” with “like-for-like revenue over recent months [being] well up on the same period last year and there are several new sites planned for the next 12 months both in the UK and internationally”.
Despite the business having reported a turnover of £3.1m for the year ending 31 August 2021 versus £18.9m the previous year due to the covid-19 pandemic, Propel reported that “Caffè Concerto has recently been invited to open a new site in Paris at the Louvre”.