Patisserie Valerie sets sights on Gail’s café chain

02/01/2018 - 09:20
Bakery chain Patisserie Valerie is hoping to acquire the 40-strong café group Gail’s, having launched a £35million share issue.

According to Sky News, a deal is not likely to take place until March but with the company’s current market value at “just over £350m, a £35m placing ‎could be organised without giving existing shareholders the right to pre-empt it.”

That said, executive chairman Luke Johnson also owns Gail’s parent brand, Bread Holdings, so will not be involved in negotiations “because of the potential for his dual role to create a conflict of interest” Sky reported.

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