Newspaper reports suggest that Byron – the highly successful and rapidly expanding launch by Gondola Holdings – is for sale, priced at up to £120 million. Byron currently has 24 operating sites, and achieves an average spend per head of £16.
Latest accounts for Byron show revenues up to £28.6 million in the year to end July 2012, with pre-tax profits hitting £2.2 million. It is suggested that profits over the last six months have progressed substantially.
Gondola’s recent annual report indicated that it is ambitious for Byron but owners Cinven may well be seeing an opportunity to realise a substantial profit, whilst continuing to invest in its other brands – Pizza Express, ASK and Zizzi.