Catering group Searcys put up for sale with price tag of £25m

Kasmira Jefford
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SEARCYS, the operator of the restaurant at the top of the iconic Gherkin tower, has been put up for sale with a price tag of around £25-30m.

The upmarket catering company, which also operates the champagne bars at the One New Change shopping centre in the City and at St Pancras station, has hired financial advisory firm BDO to find a buyer for the business.

Searcys was bought out by its management team – led by chairman Richard Tear and chief executive Doug Tetley – in 2010 in a deal valuing the business at around £8m.

The deal saw the caterer return to private ownership three years after it was bought by Alternative Hotel Group (AHG), now known as the De Vere Group.

The company, which has been expanding its presence outside of London, announced last week the launch of the Balcony Bar & Brasserie in Birmingham’s Selfridges building in the Bullring.

Searcys also counts Westfield shopping centres among its clients.