Capital and Counties acquires Covent Garden Restaurants Group
December 11, 2007
Capital and Counties has bought premier London restaurant and bar group Covent Garden Restaurants and has as part of the deal entered into a long-term management agreement with London Brasseries who will be operating the businesses.
Leisure specialist Coffer Corporate Leisure advised Capital and Counties on the acquisition of the group and introduced London Brasseries to the deal.
Located in the heart of Londons dining hot spot Covent Garden and the theatre district, the group comprises some of the citys most prestigious and well established brands including the iconic Rock Garden restaurant and nightclub and the renowned Tuttons, the sophisticated pre-theatre destination restaurant that has occupied the enviable Covent Garden piazza position for nearly 30 years.
Also included in the group is pizza concept Fire & Stone that has become one of the citys most talked about restaurants by cooking all its food in the largest wood-fired oven in the Northern hemisphere; cocktail bar Dirty Martini; and The International Bar & Restaurant on Saint Martins Lane.
Tuttons and The Rock Garden will be under the management of London Brasseries managing director Andrew Bonnell with Capital and Counties controlling those assets, whilst Fire & Stone and The International businesses have been acquired outright by London Brasseries.
CCL Managing Director Mark Sheehan said: “This group of renowned restaurants operates out of some of the most prestigious tourist locations in the world. We were delighted to act for such a high profile investor in the area as Capital and Counties who were able to make the acquisition by partnering up with experienced operator London Brasseries. This deal demonstrates that there is still strong demand in the leisure sectors for high quality operations.”