Tue, 10 Aug 2010 | BUSINESS SALE
Penta Capital, the private equity owner of gastro pup operator Geronimo Inns, is considering putting the business up for sale.
According to reports, Penta has hired one of the 'big 4' accountants PricewaterhouseCoopers to review Geronimo ahead of putting it onto the market.
Penta took a controlling stake in the company in 2006. It now has 28 sites. It has reportedly asked PwC to look at a range of options including the sale of a smaller stake.
But there is confusion over whether the sale will go ahead. A spokeswoman for Geronimo played down the likelihood of a sale and said that PwC had been asked to look at pub acquisitions and was examining a whole range of options to raise finance.
However, more senior sources close to the company and its owner Penta confirmed that the move was most likely to result in a sale. "It is a strategic review and a sale is definitely an option,” said one source.
The London-based pubs have traded well throughout the recession. As a result, there has been much discussion on a suitable price for the business. Industry experts have suggested that £30 million might be reasonable.
A parcel delivery firm based in the North West had fallen into administration and ceased trading, with administrators now seeking to sell the company’s assets, including its fleet of vehicles and leasehold property. An auction of the vehicle fleet...
Prime coastal development opportunity with full planning permission is available for sale. Total site area approx. 0.88 acres (0.36 hectares). Full Planning Permission for 19 apartments across two blocks with basement parking. The deadline for off...
This vibrant and rapidly growing online business specialises in British craft beer gift hampers, tapping into both D2C and B2B marketplaces, making it an ideal investment for those looking to capitalise on the thriving gift industry. With a streamlin...
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.