FRENCH restaurant group Le Bistrot Pierre has secured a £9.8m investment from private equity Livingbridge to fund its roll-out plans.
The chain currently has 14 restaurants, including Harrogate, Ilkley and Sheffield, and already has plans to open in Birmingham and Swansea in early 2016.
Le Bistrot Pierre, which started in 1994 in Nottingham, said it generated £2m profits on £18m of sales in its 2015 financial year.
Joint managing director and founder John Whitehead said: “We are excited by Livingbridge’s endorsement of our business and, with their investment, look forward to expanding our estate and opening more successful bistrots.”
It is the first investment that Livingbridge has made from its £220m Enterprise 2 fund, which targets fast growth SMEs that are seeking up to £10m of equity capital.
Benoit Broch, Director at Livingbridge, added: “Le Bistrot Pierre is precisely the sort of business that we love working with – they have a fantastic management team, a proven business model and a really differentiated offering and we are really excited about our future partnership with them.”
The transaction was led by Benoit Broch, Nick Holt and Oliver Mauldridge from Livingbridge. Le Bistrot Pierre was advised by Sam Fuller, Katherine Hobbs and Arthur Callaghan at Altium.
Click here to sign up to receive our new South West business news...
