On a roll: Patisserie Valerie planning bid for Gail's

By Sophie Witts contact

- Last updated on GMT

On a roll: Patisserie Valerie planning bid for Gail's

Related tags: Brighton

Patisserie Valerie is planning to launch a takeover bid to buy out the company behind upmarket bakery chain Gail’s.

Sky News​ has reported that Patisserie Holdings is drawing up plans for a share issue to raise around £35m to acquire Bread Holdings.

The deal, which Sky​ says is unlikely to be reached before March, would bring together two companies backed by serial hospitality investor Luke Johnson.

Johnson owns 39% of Patisserie Holdings and a majority stake in Bread Holdings, and according to Sky​ will stand back from the negotiations to avoid a potential conflict of interest.

Bread Holdings, which includes Gail’s and wholesale business Bread Factory, is valued at around £150m.

According to MCA's​ Branded Bakery Market Analysis,​ sales in the bakery segment were predicted to grow 3.6% in 2017, with the market set to reach a value of £1.4bn.

Gail’s opened its first bakery in Hampstead in 2005 and now operates over 30 sites across London and in Hove, Farnham and Oxford.

Johnson acquired a share of the company in 2011 and is also chairman and part-owner of numerous businesses including 3Sixty Restaurants and The Brighton Pier Group.

He was chairman of PizzaExpress from 1993-1999, during which time he grew the group from 12 to over 150 sites, and created the Strada restaurant chain in 2000.

Related topics: Business

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