Bregal Freshstream buys Lunch Garden from H2 Equity Partners, KeBeK Private Equity and Solferino
Bregal Freshstream becoming the new owner of Lunch Garden was announced during an extraordinary works council at the company. The new owner, a London based private equity fund, would like to thank the previous owners for the efforts that were made in recent years and expresses its ambition to grow Lunch Garden.
The ownership of the Belgian restaurant chain Lunch Garden changes after a period of more than five years. The current owners (H2 Equity Partners, KeBeK Private Equity and Solferino Holding NV) and Bregal Freshstream have reached an agreement regarding the sale of the company. Bregal Freshstream is a private equity fund based in London. The transaction is still subject to regulatory approval by Belgian authorities.
Over the past five years of Lunch Garden was repositioned. More than € 50 million was spent on the modernization of the existing restaurants and the opening of several new restaurants. In addition, a partnership with Total regarding the exploitation of road restaurants was set up, a new marketing plan was implemented and a new collective labor agreement was negotiated. These changes have made the company ready for the future.
Bregal Freshstream would like to thank the previous owners for these important efforts. They aim to further grow Lunch Garden. In this respect a new growth strategy will be developed together with management.
Rayhan Davis, Chief Investment Officer at Bregal Freshstream: “We are very pleased to announce this agreement today. It is the intention of Bregal Freshstream to continue to grow the company on the foundations that have been built in recent years by the previous owners.”
Annick Van Overstraeten, CEO of Lunch Garden: “I would like to thank the previous owners for the journey we have traveled together during the past five years: the company is now ready for further growth. I would also like to thank my complete staff for their commitment during the past years and I am looking forward to entering with Bregal Freshstream this new chapter in the history of Lunch Garden.”
Source: KeBeK Private Equity Press Release