Cedar Dean - Leisure Sale - North England

Date: 02 Apr 2008

Cedar Dean has acted on behalf of James Horler and LDC to acquire the Northern based Mediterranean cuisine group Ego Restaurants. Ego currently has five outlets in the in Bramhall, Chester, Heswall, Liverpool and Stockton Heath - and will soon open its first Midlands site in Lichfield.

James Horler is the former Chief Executive of La Tasca which sold to Laurel last year for £124M. He will be joined by some of the ex-La Tasca team and is planning a roll out of the concept. Horler commented that once the group reached 10 sites it would seek to raise debt funding, and that he was confident the business would be able to ride out a fall in consumer spending, arguing that restaurants were a reasonably safe bet.

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