Patisserie Holdings sells Baker & Spice for £2.5m

By Sophie Witts contact

- Last updated on GMT

Patisserie Holdings sells Baker & Spice for £2.5m

Related tags: Coffee, Café, Restaurant

Patisserie Holdings has sold the Baker & Spice chain to rival cafe group Department of Coffee & Social Affairs for £2.5m.

The deal includes Baker & Spice's four London sites, but its Oxford location is not included in the transaction and will close with immediate effect. 

It comes after the bulk of the trouble-hit Patisserie Valerie business​ was bought by its management team and Irish private equity firm Causeway Capital Partners yesterday, saving 96 of its remaining 121 sites.

Retail and distribution firm A.F Blakemore & Son also acquired Patisserie Holdings’ 21 Philpott’s stores, with both deals combined worth £13m.

The remaining assets, which were not included in the three separate transactions, will be realised during the administrations.

Baker & Spice was founded in 1995 and acquired by Patisserie Holdings in 2009.

Patisserie Holdings fell in to administration last month following the discovery of a £40m black hole in its accounts.

This led to the closure of 52 Patisserie Valerie cafes and concessions, including its iconic original Soho site on Old Compton Street. 

Related topics: Business

Related news

Show more

Spotlight

Follow us

Hospitality Guides

View more

Featured Suppliers

All suppliers

Free Email Newsletter

Subscribe to BigHospitality

The trusted industry reference point

Get the latest news & analysis from the UK hospitality sector straight to your inbox!