Vapiano's UK business acquired by investor group
The transaction secured 209 jobs.
The UK business of Vapiano has been rescued from administration after being acquired by a group of investors led by Mario Bauer, one of the pizza and pasta chain’s former directors.
On appointment, administrators Duff & Phelps concluded two transactions: the sale of three restaurants in London to UK VAP Limited, a subsidiary of LOVE & Food Restaurant Holding, and a further site in Manchester to Naveen Handa of the Cairn Hotel Group, which is operated by the Handa family.
The transactions secured 209 jobs.
LOVE & Food Restaurant Holding was created as a purchasing vehicle for a consortium of investors led by Mario Bauer, which purchased the Vapiano brand and franchising rights from Vapiano SE.
Under the terms of the agreement, Minhoco 56 Ltd, the Handa family’s purchasing vehicle, will enter a franchise agreement with LOVE & Food Restaurant Holding to operate the restaurant and are looking to open further sites across the UK.
