THE OWNER of high street restaurant YO! Sushi has emerged as a potential suitor to snap up hamburger chain Byron after submitting a bid for the company, it is thought.
Quilvest, which bought the Japanese restaurant in 2008 and also owns Mexican grill restaurant Tortilla, is in the running alongside Searchlight Capital Partners to take over the business, after first round bids closed earlier this month.
Byron’s owner Gondola Holdings – owned by private equity giant Cinven – appointed DC Advisory to launch a £100m sale process for the company in November after interest emerged from parties to buy the company.
Gondola, which also owns the Pizza Express, Zizzi and Ask chains, set up the company in 2007 to rival the standard of burger fare on offer in the US.
Since then, Byron has seen a steady increase in sales and profits.
It is understood to currently rake in between £10m and £12m in adjusted earnings before interest, tax, depreciation and earnings.