Market leading chain of French casual dining restaurants requiring development capital to fund multisite rollout programme.
Our Corporate Finance specialists have advised Le Bistrot Pierre on a multi-million pound development capital financing deal that will see the French restaurant group double the number of its outlets over the next four years.
The privately owned group, which opened its first restaurant in Nottingham almost 20 years ago, is currently in 10 locations including Derby, Harrogate, Leicester and Ilkley. New sites have already been secured in Birmingham, Cardiff and Torquay with other suitable venues being sought in Leeds, Manchester, Newcastle, Milton Keynes, Bristol and Taunton.
Having performed strongly even through the downturn, the group decided to pursue its expansion plans more aggressively and called in Cooper Parry to advise on raising the finance needed.
David Browne, partner at Cooper Parry who led the deal said, “Le Bistrot Pierre has great brand recognition and has carved out its niche in the premium casual dining sector of the eating out market. Having enjoyed steady growth in the past, this major financing deal will be integral to its planned future success.”
“We are delighted to have been involved in a deal which will allow the management team to roll out the Le Bistrot Pierre brand across the UK.”
Robert Beacham is joint founder of Le Bistrot Pierre. He said: “We have spent years creating a restaurant brand that is firmly focused on great value French dining and good food. We are very proud that this combination has proved to be the right mix and that it has enabled us to get to where we are now.”
John Whitehead, also founder of the business said: “It has long been part of our plan to grow and expand Le Bistrot Pierre and appeal to a national market. Doubling our sites is a big step forward and we are all very excited about the coming years ahead.”
The deal was welcomed by the Le Bistrot Pierre board, including Chairman Ron Moss and Director Adam Fowle who commented, "The ongoing growth in turnover we've seen across the group this year proves it is the right time for the Le Bistrot Pierre brand to increase its national offering. This is an exciting next stage in the Pierre story."
The 11th Le Bistrot Pierre restaurant is set to open in November 2013 in Cardiff – the launch comes months after a successful opening in Plymouth this Easter. The family of individual restaurants has also been awarded TripAdvisor’s Certificate of Excellence 2013 which means it is one of the top 10% of businesses rated on the site.