Double franchise deal for Smith Cooper
Smith Cooper’s corporate finance division has completed two franchise deals in the south of England.
The first deal saw London-based independent pizza delivery business, KMP Taste, one of the UK’s largest Pizza Hut franchises, sold to private investors in a deal project managed by Smith Cooper.
The sellers were three brothers from the London-based Patel family, private shareholders with a variety of business interests. The buyer was Zaf Holdings, a newco set up by Arif Jivraj, a private investor with wide-ranging expertise in franchised food retail.
Smith Cooper corporate finance partner, John Farnsworth, said: “This transaction, involving nearly 30 stores and over 500 employees, breaks size records for a UK Pizza Hut deal, certainly in recent history. We are privileged to have worked with the Seller for some years before the sale process began, during which time they built a large, market-leading and profitable business.”
The second deal was the sale of south-east based Costa Coffee franchise operator, Cats Eye Trading, which was sold to an experienced franchise entrepreneur in a deal initiated and project managed by Smith Cooper.
Cats Eye Trading operates a cluster of Costa Coffee franchise stores in high street locations in Surrey. The seller was private shareholder, Ian King, whilst the buyer was Kashgroup Trading, owned by experienced entrepreneur Kash Jaffar, an operator of Budgens and Pizza Hut Delivery franchises.
Farnsworth added: “We are delighted to have secured a successful exit for Ian King who has had 12 years in the Costa system. In this time, Cats Eye built an excellent reputation for high operating standards and customer care. The acquisition forms a strong platform for expansion for the Kashgroup Trading, which is a new entrant to the Costa brand.”
