The owners of trendy London bar chain Grand Union have appointed advisers as they seek to sell the business.
Leisure property specialist Coffer Corporate Leisure has been taken on to handle the sale of Grand Union, City A.M. has learned.
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The chain, which specialises in “cocktails, burgers, dancing and happiness”, is co-owned by founder Adam Marshall and serial investor Luke Johnson.
The owners are seeking around £5m for the company, which has bars in Brixton, Camberwell, Chancery Lane, Camden, Farringdon, Kennington, Paddington and Wandsworth.
Grand Union was founded in 2006 in Camden by Marshall and Adam Saword. The latter sold his 50 per cent stake to Johnson, who is now chairman, in 2013.
Grand Union was also rumoured to be on the market, for between £10-15m, in 2011, having appointed advisers from Cavendish Corporate Finance.