The FINANCIAL — Restaurant group and concessions caterer Peyton and Byrne has secured a £6.25m cash injection to fund further growth and expansion.
The company, headed up by restaurateur Oliver Peyton (pictured) and run by his sister, managing director Siobhan, has received the investment from Business Growth Fund (BFG).
As Caterer and Hotelkeeper reported, it plans to roll out its high-street retail bakeries over the next four years and expand its offer of catering outlets at visitor attractions and hopes the expansion will create 200 new jobs.
In addition, Peyton and Byrne has appointed Mike Johnson, who previously worked with Sodexo and Whitbread, as non-executive chairman and Alistair Brew from BGF as non-executive director.
Peyton and Byrne was founded in 2005 and currently has seven cafés and bakeries in London as well as eight restaurants, including Inn the Park in St James Park, as well as outlets at museums and galleries, including the Royal Academy, the National Gallery and the Wellcome Collection. In 2012 the group delivered nearly £20m of revenue.
Commenting on the investment, Oliver Peyton said: “Peyton and Byrne has established itself in some of the finest venues in the world and we believe that now is the right time for us to take the next step. We know that there are lots of opportunities for our company both in our existing venues, in other premium visitor attractions and in important iconic cultural venues, where we will continue to expand.
“BGF is offering the chance to take full advantage of the opportunities available to us to and it is absolutely fantastic to see British retail businesses being backed in this way.”
Alistair Brew, Investment Director for BGF, added: “With the injection of funding, a strengthened management team and multiple growth drivers across all areas of the business, we look forward to being part of an exciting and growing brand in the UK.”