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London-based investment firm McWin Capital Partners is reportedly in talks to acquire bakery-café chain Gail’s from parent company, Bread Holdings, according to Bloomberg.
It comes as McWin Capital owners, Henry McGovern and Steven Winegar, already hold shares in Gail’s via their EBITDA Investment business, which partnered with Bain Capital Credit, to take a £200m controlling stake in the café chain in September 2021.
Earlier in November, Sky News reported that Bread Holdings appointed Goldman Sachs to auction a sale of Gail’s with a deal for around £500m said to be touted.
It is understood that McWin Capital Partners is now seeking to pre-empt a sale process for the 150-store chain.
The potential buyout by McWin Capital would likely see Bread Holdings and Bain Capital both fully exit the bakery-café chain.
In the year to 29 February 2024, Gail’s reported a 27.5% year-on-year revenue growth to £231.7m.
Launched in 2016, McWin Capital invests in the pan-European foodservice industry and owns exclusive master franchise rights for Subway in France, the Czech Republic, Luxembourg and Belgium, as well as for fast-food chains Popeyes and Burger King in Eastern Europe.
Gail’s has been approached for comment.
