ACQUISITION OPPORTUNITY –CHAIN OF QUICK SERVICE RESTAURANTS (“Project Victoria”)
ACQUISITION OPPORTUNITY –CHAIN OF QUICK SERVICE RESTAURANTS (“Project Victoria”)
Wed 07 Apr 2021
Mazars LLP are identifying potential purchasers for an established chain of coffee shops and quick service restaurants
Background
Private Equity backed Project Victoria operates an established chain of 12 quick service restaurants in Bristol (8), Manchester (3) and Birmingham (1).
Operating under an established and recognised brand name (particularly in the Bristol market), Project Victoria primarily serves the office worker population and university markets with breakfast, lunch and coffee from prominent, high footfall, central business district locations.
Project Victoria has, however, been adversely impacted by the financial effect of Covid-19 and entered into a Company Voluntary Arrangement in October 2020 with a view to exiting the Manchester and Birmingham markets, re-negotiating terms with landlords, and re-focussing future operations in Bristol.
Financial Snapshot
Key Investment Highlights
Established and recognised brand / trading name;
Leasehold property portfolio;
Fully fitted and established stores, in prominent central business district locations;
Key customer base – office worker population and students / universities;
A strong reputation for high-quality product and service, along with sustainability;
A large app customer database;
Experienced management and established store team;
A track record of growth and expansion, bringing opportunities to expand the store portfolio;
Opportunity to develop a franchise network (previously implemented by the Company at one location);
Financially unviable stores already addressed / closed through CVA process (although leases yet to be determined, bringing the possibility for a purchaser to re-open in Manchester and Birmingham).
Next Steps and Contact Details
Offers are invited in relation to the Shares or the Business and Assets.
Further information can be provided on request and following receipt of a signed non-disclosure agreement.
For more information, please contact:-
Mark Boughey
Partner
Email: mark.boughey@mazars.co.uk
Mobile: +44 (0) 7769 727 477
Nick Clarke
Associate Director
Email: nick.clarke@mazars.co.uk
Mobile: +44 (0) 7794 031 359
Qasim Memon
Associate Director
Email: qasim.memon@mazars.co.uk
Mobile: +44 (0) 7881 283 872
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