Market Halls in line for c.£20m private equity investment
Property Week reports that the group, which has opened two London food courts in Victoria and Fulham since 2017, is in line to receive c.£20m funding.
A spokesperson for Bridgepoint declined to specify the size of the deal but confirmed that Bridgepoint Growth, a dedicated fund which is part of the private equity group, is making the investment.
It comes as Market Halls prepares to launch its first location outside London, The Hall at intu Lakeside in Essex, which will feature seven kitchens, two bars, and pop-up areas for street food trucks.
Speaking to BigHospitality earlier this year, Market Hall’s chief executive Andy Lewis-Pratt said “in theory” there could be at least another 15 opportunities for the brand similar to Lakeside across the UK.
“We’re looking at areas with a large catchment population so places such as Birmingham, Cardiff and Liverpool are on our radar,” he said.
Market Halls will also open a 37,500 sq ft Oxford Circus site, set to be the UK’s largest food hall, in the former BHS building this summer.
A fourth London site is to launch in a 20,000 sq ft space in Canary Wharf’s Cargo redevelopment in 2021.
Market Halls was founded in 2018 by former property developer Lewis-Pratt and Simon Anderson, co-founder of London restaurant Pitt Cue.
Bridgepoint has also backed Azzuri Group, which includes the Zizzi, ASK Italian and Coco di Mama restaurant brands, since 2014. It owned Pret a Manger for ten years until it sold the chain to investment firm JAB for £1.5bn in 2018.
