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BC Partners in talks to acquire Cote for about 250 million pounds - source

Published 14/07/2015, 01:48
© Reuters.  BC Partners in talks to acquire Cote for about 250 million pounds - source

(Reuters) - Buyout group BC Partners is in advanced talks to buy restaurant chain Cote for about 250 million pounds ($387.18 million), according to a source familiar with the matter.

The deal, which could be announced this week, was first reported by Sky News on Monday.

Cote, which operates from over 65 locations in the United Kingdom, is expected to generate sales of about 110 million pounds and pre-tax profits of more than 20 million pounds towards the end of July, Sky News reported.

BC Partners has been in talks with the restaurant group for quite some time, Sky News said, citing sources.

Cote and CBPE - a private equity group which acquired a controlling stake in Cote around two years ago - could not be reached for comment immediately outside regular business hours.

($1 = 0.6457 pounds)

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