Acting on behalf of the Margolis Family Trust, Coffer Corporate Leisure has sold Ed’s Easy Diner to a management buy-in team lead by ex-Pontis Chief Executive Peter Featherman and backed by Rankvale. The business changed hands for an undisclosed sum.

The business comprises three outlets in Soho’s Old Compton Street, the Trocadero Centre on Rupert Street and the Bluewater Shopping Centre.

Founded in London by Barry Margolis in 1987, the business has been held in trust for the benefit of his family since his death in 2005.

Peter Featherman will be the new Chief Executive of Ed’s and Stephen Greene, Executive Chairman of Rankvale, will be the new Chairman. Andrew Guy has also agreed to join the Board as a non-executive director.