Sale of Kornicis Group Limited
November 4, 2015
Coffer Corporate Leisure is delighted to announce the sale of Kornicis Group, operator of the well-known Jamies and Smollensky's brands. Coffer Corporate acted on behalf of the Vendor, NBGI Private Equity. The business, which includes 17 bars and restaurants based primarily in the City of London, was bought by Isfield Investments for an undisclosed sum. The deal will see Isfield chief financial officer Ian Banks, formerly of Soho House join forces with incoming chief executive Richard Stringer, formerly of Faucet Inn, Barracuda and JD Wetherspoon.
Mark Sheehan, Managing Director, Coffer Corporate Leisure, said, "We were delighted to advise NBGI Private Equity on the sale of Kornicis Group which includes the well-known 'Jamies' and 'Smollensky's' brands. The business, comprising 17 units, generated significant interest and bidding from both trade and private equity buyers who were attracted to the opportunity to acquire a platform in the strongest drinking and eating out market in the world."
Richard Stringer said: "This great collection of bars and brands is in good shape and provides an ideal platform for further development and rollout. Jamies in particular has a strong presence in the City and clearly has potential to be taken to a wider audience."