The owner of bakery and coffee chain Gail’s is preparing to hire advisers for a sale that would value it at well above the £200m it paid for when it changed hands nearly three years ago.
Sky News understands Bain Capital Credit and EBITDA Investments – a fund backed by serial restaurant investor Henry McGovern – are developing plans to appoint bankers, possibly before the end of the year.
Gail’s, which is also part-owned by former Channel 4 chairman and renowned entrepreneur Luke Johnson, has grown rapidly in recent years.
The Bread Factory, a sister company to Bread Holdings, is a leading independent bread producer, supplying high-end customers and supermarkets.
The group changed hands in September 2021 in a deal worth more than £200 million.
At the time, Gail’s had just over 70 bakeries across the country; now that number exceeds 100.
Although mainly concentrated in London, it now also has offices in places such as Brighton and Oxford.
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The formal sale process is not likely to start until next year, sources said.
Mr. Johnson’s Risk Capital Partners originally partnered with Gail co-founder and CEO Tom Molnar in 2011.
Bain Capital and Johnson declined to comment.
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