Philpotts, the multi-award winning lunchtime food destination was acquired by Patisserie Valerie in 2014. Established in 1985, Philpotts is renowned for offering high quality food and customer service and operates a portfolio of 22 stores across 11 regional business centres.
PPCF were appointed by the shareholders to help realise their investment. With the support of its PE backer, Risk Capital Partners, Patisserie Valerie was identified as one of a select number of likely purchasers.
The exit comes 8 years after PPCF acted as lead adviser to serial entrepreneur Richard Tonks on the acquisition of Philpotts. Under Richard’s ownership the model was both geographically expanded and the product offer enhanced to meet the ever evolving appetite of the lunchtime food market.
Tim Simpson, Partner at PPCF, commented “We are delighted to have assisted the shareholders throughout the investment cycle from acquisition to disposal. In Patisserie Valerie we found a buyer who understood the potential of the Philpotts model and were keen to continue its development."