London, 14 July 2015 – Funds advised by BC Partners (“BC Partners”), a leading European private equity firm, have acquired a majority stake in Côte Restaurants Limited (“Côte” or the “Company”), the fast-growing UK restaurant chain. Management will be retaining a significant shareholding. Terms of the transaction are not disclosed.
Côte is one of the fastest growing and innovative restaurant businesses in the UK, providing consistently high-quality, freshly-prepared food in a modern bistro inspired setting. The restaurants are committed to sourcing seasonal and high-quality ingredients, and to providing an exceptional dining experience for customers. The Company has been built up from launch in 2007 to 67 restaurants today by the senior management team, led by Alex Scrimgeour (Joint MD), Harald Samuelsson (Joint MD) and Paul Aitchison (CFO).
Matthew Tooth, a Senior Partner at BC Partners, commented: "Côte is an outstanding business, led by a hugely talented management team who are incredibly passionate about delivering high quality food, in an appealing environment and at very attractive prices. We look forward to backing the team to continue the roll-out of the highly successful Côte format, as well as supporting them in potentially developing or acquiring other restaurant concepts."
Alex Scrimgeour, Managing Director at Côte, commented: "I am delighted that we have found a new partner in BC Partners. They have an impressive track record in helping business to grow and develop their full potential, and we are excited about taking the business to the next level with their support."
BC Partners is a leading private equity firm with advised funds of €12.6 billion. Established in 1986, BC Partners has played an active role in developing the European buy-out market for 28 years. BC Partners executives operate as an integrated team through the firm’s offices in Europe and North America, acquiring and developing businesses to create value in partnership with management. Since inception, BC Partners has completed 87 investments in companies with a total enterprise value of €95 billion and is currently investing its ninth fund, which was raised in 2011 with total commitments of €6.7 billion.
Côte offers simple freshly prepared French food at value for money prices. Its inspiration for the food and design of its restaurants comes from a modern interpretation of the many famous bistros that populate Paris. Its menu always offers classics dishes such as steak frites, moules marinières and corn fed chicken from the heart of rural Brittany, alongside lighter dishes such as tuna nicoise. Crème caramel and crème brûlée are house specialities for dessert. Open all day for breakfast, lunch and dinner, Côte also offers regular changing seasonal specials and its atmosphere is informal and friendly.