Bondholder Smith Cooper’s Corporate Finance division were delighted to announce two May deals, which completed within a week.
The first deal saw London-based independent pizza delivery business, KMP Taste Limited, one of the UK’s largest Pizza Hut franchises, sold to private investors in a deal project managed by Smith Cooper. Smith Cooper provided full deal management services, including buyer identification.
Of the transaction, Corporate Finance Partner John Farnsworth commented: “This transaction, involving nearly 30 stores and over 500 employees, breaks size records for a UK Pizza Hut deal, certainly in recent history. We are privileged to have worked with the Seller for some years before the sale process began, during which time they built a large, market-leading and profitable business.”
The second deal was the sale of South-East based Costa Coffee franchise operator, Cats Eye Trading, which was sold to an experienced franchise entrepreneur in a deal initiated and project managed by Smith Cooper.
Cats Eye Trading Limited, operates a cluster of Costa Coffee franchise stores in high street locations in Surrey. The seller was private shareholder, Ian King, whilst the buyer was Kashgroup Trading Limited, owned by experienced entrepreneur Kash Jaffar, an operator of Budgens and Pizza Hut Delivery franchises.
Of this transaction, John Farnsworth commented: “We are delighted to have secured a successful exit for Ian King who has had 12 years in the Costa system. In this time, Cats Eye built an excellent reputation for high operating standards and customer care. The acquisition forms a strong platform for expansion for the Kashgroup Trading, which is a new entrant to the Costa brand.”