Paramount Restaurants has been sold by investment firm Dawnay Day to PPM Capital for £107.5m.
Paramount operates 77 restaurants throughout the UK under the Chez Gérard, Bertorelli, Caffé Uno, Livebait, Café Fish and Brasserie Chez Gérard brands.
Nick Basing, chief executive of Paramount, said: “We are delighted to have completed this transaction and secured the support of PPM Capital to continue to develop our portfolio of brands.
“We have exciting plans to expand the number of outlets we operate while also continuing to refurbish and refresh our existing sites.”
Equity funding was provided by PPM and the Paramount management team, which will be re-investing part of their proceeds. Details: www.paramountrestaurants.co.uk
