According to BigHospitality's sister publication, MCA Insight, Peyton and Byrne, founded by restaurateurs Oliver and Siobhan Peyton in 2005, went into administration after losing its contracts at the Royal Botanical Gardens at Kew and the British Library.
Sodexo, which holds the contract to supply catering at a number of attractions and sports venues in the UK, has taken over Peyton and Byrne's remaining contracts with the National Gallery, The Royal Academy of Arts, the Imperial War Museum, the ICA and the Wallace Collection. All contracts will be operated under Sodexo's Sports & Leisure arm.
Nathalie Bellon-Szabo, global COO Sodexo Sports & Leisure, said: “We are delighted to join forces with Peyton and Byrne to grow our business in London, a highly strategic market for Sodexo Sports & Leisure, which is already present in several museums and cultural attractions across the UK.”
The move will see the Peytons continue to lead the contracts at Sodexo. Dan Butters, joint administrator and partner at Deloitte's restructuring services practice also confirmed to MCA that all 440 employees would be retained.
Oliver Peyton said the sale was 'good news' for the future of the Peyton and Byrne brand and Sodexo.
"Sodexo has a strong record in public catering, and I am looking forward, alongside Siobhan, to working with them in meeting the challenge of a highly competitive market and taking the public catering business of Peyton and Byrne to the next level," he said.
Sodexo said the acquisition would 'accelerate Sodexo's growth in the visitor attraction market' and give it a greater stronghold in London.
Chris Bray, CEO Sports & Leisure, Sodexo UK & Ireland, said:“Sodexo and Peyton and Byrne have shared values that put our clients first and ensure we respond to their needs and the needs of the market. Oliver and Siobhan have built a truly aspirational brand in the London visitor attractions market. We are bringing together our resources, talent and expertise to develop an attractive customer experience that will deliver greater value to all our clients.”
Peyton and Byrne's bakery business, which operates five bakeries across London will continue to be run separately under a new company Peyton and Byrne Bakeries Limited.