Lomo Bidco, a vehicle wholly owned by Investec and SC Lowy, has acquired Gaucho through buying the business out of Administration. Experienced restauranteur and former M.D of Gaucho Martin Williams will lead the business.
Williams brings over 20 years of restaurant experience to the brand and will lead the Management team, which has been expanded with a number of new hires. Williams will maintain his role as CEO of M Restaurants, the restaurant group he established in 2014.
M Restaurants CEO to ‘additionally’ lead Gaucho acquisitionA new vision, which will be implemented immediately, will build on everything about the Gaucho heritage that is loved: modern Latin American food and drink, an exciting, internationally-appealing atmosphere and experiential style of service. The Management team has further plans for 2019 onwards to include refurbishments and a new brand direction.
Commenting on the acquisition and future plans for Gaucho, Martin Williams said:
“Congratulations to Investec and SC Lowy on supporting Gaucho through this difficult period and ensuring the survival of the business and safeguarding over 700 jobs. Investec and SC Lowy believe Gaucho is a great business and a brand which can be taken to new heights. I am delighted to be leading this incredible journey which will re-establish the brand as the leading premium restaurant group in the UK and diners’ ‘go to’ favourite.
“The future of Gaucho will embrace the heritage of the brand and its 24 years as a UK institution and simultaneously partner with and be inspired by the most modern world-class innovators of food and drink who are taking both Latin America and the world by storm. We have the world’s best Latin American talent joining us for a series of celebrations to start the evolved Gaucho journey!
“In an incredibly challenging environment for the restaurant sector, it is fantastic to be heading up both M and Gaucho – I am delighted that I have the best talent in UK Hospitality working with me in both companies and proud that we will be delivering outstanding experiences for the increasingly discerning diners of the UK.”
Investec and SC Lowy commented:
“We are delighted that Gaucho has been able to exit from this troubled period and through our support the survival of the business has been ensured. We know the brand and business well and have utmost confidence that there is a bright future ahead. We are extremely pleased to have brought Martin on board and are fully committed to support the vision for the business, including investment in restaurants and the brand. This is an exciting time for Gaucho and we look forward to the Gaucho proposition leading re-engagement with our customers.”
H&C News spoke with Martin Williams earlier this year, Five minutes with… Martin Williams
We would like to wish Martin every success with his new role