Jamie Oliver in talks to sell restaurant stake to 3i

June 5, 2015 Leave your thoughts

Celebrity chef explores deal that could value Jamie’s Italian, Jamie Oliver’s Diner, and Barbecoa at £200.

Jamie Oliver is in early talks about selling a stake in his restaurant empire to Britain’s former state-backed private equity group.

3i is in talks with Jamie Oliver Group about a deal that could value its restaurants at £200m and see the private equity group acquire a majority stake.

Jamie Oliver has appointed Royal Bank of Canada to handle discussions about a deal with 3i, as well as with other potential buyers, according to Sky News.

Mr Oliver has launched a handful of new restaurant chains, including Jamie’s Italian, Jamie Oliver’s Diner, and Barbecoa.

As well as potentially selling a stake in the restaurants, Mr Oliver has hired investment bank Raine to offload part of his publishing business.

The chef’s business interests employ roughly 8,000 people across publishing, restaurants, and retail.

The sale of the stakes will help Mr Oliver to fund more openings of his restaurant.

Jamie’s Italian was launched in Oxford in 2008. It now has almost 40 sites in the UK and 15 overseas, generating sales of more than £100m per year. Future openings are planned in Indonesia, Australia and Hong Kong.

Mr Oliver’s other restaurant concepts remain restricted to a handful of sites. There is one Barbecoa, a steakhouse style restaurant, in St Paul’s, London, although a second site will open in Piccadilly later this year.

Mr Oliver closed three of his Union Jacks branches last year as they enjoyed only mixed success. There is one Union Jacks remaining in Covent Garden. The restaurant serves traditional British food.

Jamie Oliver Group and 3i declined to comment.


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