The news comes as BigHospitality’s sister publication M&C Report revealed that Chez Gerard’s brand owner Paramount Restaurants has been placed into administration. According to M&C, further deals are in the pipeline for Paramount's remaining restaurants operating under the Brasserie Gerard, Livebait and Bertorelli brand names.
The Brasserie Bar group, which operates Brasserie Blanc and the White Brasserie Company, now plans to invest £4m transforming the eight Chez Gerard sites into Brasserie Blancs, although they will continue to trade under the Chez Gerard name over Christmas.
All eight sites are in London, including Covent Garden Opera Terrace site, as well as sites in Bishopsgate, Chancery Lane, Charlotte Street, Covent Garden, St Pauls, Southbank, and the Tower of London.
London presence
The acquisition, which Brasserie Bar Co said would give the business a ‘significant’ West End and City of London presence, comes soon after the company raised £20 million of new capital from its private equity backer, Core Capital.
The new restaurants will grow the Brasserie Bar Co portfolio to a total of 19 outlets, including nine existing Brasserie Blancs and two White Brasserie pubs. The company aims to grow to a total of 40 outlets by 2016.
Mark Derry, chief executive of Brasserie Bar Co said: “We are delighted to have secured these prime locations for Brasserie Blanc which will give us significant traction in central London and progresses Raymond Blanc’s dream of bringing quality French food to the high street.”
He added: “Our strategy, when we raised £20 million of new equity in September, was to expand our brasserie businesses particularly in London and the South East. This acquisition gives us eight new Brasserie Blancs and increases the number of covers we serve to over 2,000.”