Peyton and Byrne, which Oliver founded with his sister Siobhan in 2005, has delivered nearly £20m of revenues this year and has a track record of increasing turnover at venues within their first year of operation – meeting the BGF’s criteria of growth potential for funding.
“Peyton and Byrne has established itself in some of the finest venues in the world and we believe that now is the right time for us to take the next step,” said Oliver, who is recognised as a judge on the BBC’s Great British Menu.
“We know that there are lots of opportunities for our Company both in our existing venues, in other premium visitor attractions and important iconic cultural venues, where we will continue to expand.
“British baking has come of age in this country and I believe we have surrounded ourselves with a team of people who will forge a real British presence on the high street through Peyton and Byrne shop, based on solid principles of genuinely freshly baked goods.”
Peyton and Byrne operates a number of restaurants in public spaces in the capital focusing on parks and national institutions including a restaurant and café in the National Gallery. Earlier this year the group revealed it is planning to open an outlet in the Royal Academy of Arts in spring 2013.
The BGF, which was formed last year following government talks with high street banks, invests between £2m and £10m in companies for between five and seven years. Oliver Peyton revealed his delight at being one of the BGF’s chosen businesses.
“BGF are offering the chance to take full advantage of the opportunities available to us to and it is absolutely fantastic to see British retail businesses being backed in this way,” he said. “We liked the fact that BGF is providing expansion capital to high growth businesses like ours; the type of funding that will continue to contribute to the recovery of the UK economy.”
Alistair Brew, Investment Director for BGF, added: “In Oliver, Siobhan and the team you have a fantastic mix of people who are extremely passionate not only about a business they have grown over the past seven years and the brand associated with it, but also about delivering great food and service at some of London’s most iconic venues.
“A large part of Peyton and Byrne’s growth will come from expanding the portfolio of bakery sites and restaurants and we felt that BGF’s mix of patient growth capital and desire to provide additional help and expertise across the business was an ideal fit for the company.
“With the injection of funding, a strengthened management team and multiple growth drivers across all areas of the business, we look forward to being part of an exciting and growing brand in the UK.”