Coffer Corporate Leisure sells Bombay Bicycle chain
July 17, 2008
Clapham House Group, the Aim-listed restaurant operator, has sold its Indian food brand Bombay Bicycle Club through leisure specialist Coffer Corporate Leisure.
The business, which comprises three restaurants and 15 home delivery kitchens throughout London, was sold to Tiffinbites operator Gourmet Restaurants for £4.4m.
Clapham House will use the proceeds from the sale to fund expansion plans for its highly regarded Gourmet Burger Kitchen (GBK) concept.
Alongside GBK, which has been expanded to more than 50 locations, Clapham House also operates The Real Greek and Tootsies.
Tiffinbites, the healthy Indian fast food concept created by Jamal Hirani, runs four outlets in St Paul’s, Moorgate, Liverpool Street and Canary Wharf as well as a staff canteen business. Hirani is looking to expand the business to 50 outlets by the end of 2009.
Mark Sheehan, Managing Director of CCL, said: This transaction shows that despite the credit environments, deals are still happening in the leisure sector. We were delighted to act on behalf of Clapham House Group and to be involved in a transaction that moved very quickly. It is a deal which makes sense for all parties.