PEYTON AND BYRNEDecember 2012 | Investment News
Peyton and Byrne secures £6.25m funding from BGF
Peyton and Byrne operates in three distinct areas. It currently operates restaurants at eight iconic London visitor attractions including The National Gallery, the Royal Academy of Arts and Kew Gardens. Peyton Events provides catering for private functions at twenty high profile venues in London such as The Wallace Collection and Lancaster House. And finally, the business runs retail bakery and café outlets in central London locations offering a modern take on British baking traditions.
The business was founded in 2005 by the renowned restaurateur and face of BBC Two’s Great British Menu Oliver Peyton along with his sister Siobhan Peyton, who holds the role of CEO. Oliver entered the restaurant trade in the early nineties when he opened the iconic Atlantic Bar & Grill. In 2004, Peyton launched the eco-friendly 'Inn the Park' in the heart of St James's Park, the start of the current Peyton and Byrne collection of cafés and restaurants. Oliver was awarded an OBE earlier this year for services to the hospitality industry and has worked with Siobhan throughout the development of Peyton and Byrne along with other family members, Caitriona and Marie.
London is one of the most popular visitor destinations globally, attracting both domestic and overseas tourists. The museums and galleries sector that Peyton and Byrne operate in is the largest and fastest growing sector within the visitor attractions market. On the events side of the business, the company catered over 650 events in 2011 including corporate functions, weddings, bespoke parties and major conferences. In 2012 Peyton and Byrne delivered nearly £20 million of revenues and has a track record of increasing turnover at each of its venues within the first year of operation.
In December 2012 BGF invested £6.25 million of growth capital for a minority stake in London based Peyton and Byrne.
BGF’s £6.25 million investment will help accelerate the company’s roll-out programme of high-street retail bakeries over the next four years and facilitate new restaurant launches. It will also fund continued investment in people and as a result of this expansion, the company expects to create approximately one hundred new jobs.
In addition to funding, BGF contributed additional support to the company through the introduction of Mike Johnson as non-executive Chairman. Mike is the former Managing Director of the Corporate Services and Leisure Division at Sodexo UK and was the CEO of Whitbread’s restaurant division which included the Costa, TGI Fridays and Cafe Rouge brands.
BGF took a minority stake in Peyton and Byrne and Alistair Brew joined the board. The investment represented BGF’s fifth investment in a London based business and was its third investment in the leisure and hospitality sector.