Ed's Easy Diner restaurant chain acquired by 2 Sisters Food Group entrepreneur

Fri, 14 Oct 2016 | ADMINISTRATION

Ed’s Easy Diner has been bought out of administration by the owner of Bernard Matthews. Ranjit Boparan, who owns the 2 Sisters Food Group, acquired the diner chain for around £7.5 million through his Giraffe chain of restaurants.

The deal means that 33 of Ed’s Diners will continue to trade under the brand, resulting in 700 jobs being saved. However, 26 restaurants will close with the loss of 379 jobs.

Mr Boparan, a food entrepreneur, has had a busy few months after acquiring turkey producer Bernard Matthews in a pre-pack deal and taking the group’s assets without taking on any liabilities.

Ed’s Diner started out in Soho in 1987 and has jumped from three restaurants to 59 since 2010. However, due to weak trading, it was put up for sale earlier this year. When the company went up for auction last year, it was expected to fetch more than £100 million but failed to sell. Analysts still expected the chain to sell for approximately £20 million, so the acquisition cost of £7.5 million is significantly less than predicted.

Administrators at KPMG said they would seek to protect the interests of those employees that had been made redundant, stating that while they were “pleased,” their priority is to “liaise with those employees who have been affected by redundancy and ensure that in addition to receiving all back pay owed”.

Giraffe’s managing director Tom Crowley said in a statement: “Ed’s Easy Diner has been an integral part of the UK casual dining scene for the past four decades and we are very excited about the business joining the group and the opportunities ahead.”

Find a restaurant business for sale


Share this article



Latest Businesses for Sale

Windows & Doors Supply & Installation
UK Wide

Supplies uPVC windows and doors to home and small business owners in the UK. Operates from freehold premises. Excellent potential for continued growth. Our client is offering the business for sale to facilitate their retirement. Offers invited.

Asking Price: Offers Invited
Turnover: £594,000

FREEHOLD


Personalised Print Company (Fast Sale)
South West, UK

Offers are required by 5pm on Friday 24th April 2020. Long established personalised print company with UK wide educational sector clients. Over 30 years in the marketplace. Supply of personalised printed items/merchandise to UK educational organisati...

Asking Price: Offers Invited
Turnover: £815,002

LEASEHOLD


Designer & Manufacturer of Bespoke Carpentry & Joinery Components (Fast Sale)
West Midlands, UK

Interested parties should be in a position to submit initial expressions of interest no later than 5pm on 17 April 2020. A unique opportunity to acquire a well-established designer and manufacturer of bespoke carpentry and joinery components.

Asking Price: Offers Invited
Turnover: £5m+

LEASEHOLD



View more businesses for sale

News Search

Latest News

 
07
 
Apr
 

Treasury plan to save medium-sized businesses by taking emergency stakes | BUSINESS NEWS

The Treasury is understood to be considering user taxpayer m...

 
07
 
Apr
 

Clarks makes store closures and explores financing opportunities | COMMERCIAL PROPERTY

Footwear retailer Clarks has confirmed that it will close a ...

 
06
 
Apr
 

Cath Kidston set to enter administration | ADMINISTRATION

Clothing, accessories and homeware retailer Cath Kidston has...

Free guide: 10 Biggest Buyer Mistakes

Sign up to receive our acquisition alert emails to get your FREE guide

Email


Related News

 
11
 
Jun
 

Tesco offloads Giraffe restaurant chain to Boparan | DIVISION SALE

Supermarket giant Tesco has found a buyer for its distressed...

 
01
 
Apr
 

Tesco looks to sell off Giraffe restaurants | DIVISION SALE

Tesco is looking to sell off its loss-making Giraffe restaur...

 
15
 
Apr
 

3Sixty Restaurants gears up for a sale | BUSINESS SALE

Luke Johnson is readying to put 3Sixty Restaurants on the ma...

Want access to the latest businesses for sale?

Business Sale Report is your complete solution to finding great acquisition opportunities.

Join today to receive:

  • Comprehensive range of businesses for sale
  • Make direct contact with business sellers or their intermediaries
  • Access to all UK administrations, liquidations and winding-up petitions
  • Daily email alerts for the latest businesses for sale & distressed notifications
  • Business Sale Report publication posted to you every month
  • Advertise your acquisition requirements on our "business wanted" section

All this and much more, including the latest M&A news and exclusive resources