Corporate sale of Bel and the Dragon Group

May 25, 2007

Coffer Corporate Leisure, acting on behalf of Gourmet Holdings Plc, sold Bel and the Dragon pub restaurant group to late night operator Ultimate Leisure Plc for £8.75m.

The group comprises 4 home county pub restaurants in Cookham, Godalming, Reading and Windsor. Three of the properties were freehold. This was the first acquisition of a food led business for Ultimate Leisure and part of the company strategy to develop its food led operations.

Gourmet Holdings retains its 4 Richoux restaurants in London.

Coffer Corporate Leisure ran a confidential sale process and invited offers from known operators and investors seeking restaurant and pub groups. A large number of offers were received prior to exclusivity being agreed with Ultimate Leisure Plc.