Evolv Collection owners acquire London Brasseries

Investors Calveton UK and Breal Capital have announced the acquisition of London Brasseries Ltd, which operates five restaurants in the West End.

 

It comes roughly a year after Calveton and Breal agreed to purchase 51 of TGI Fridays’ 87 restaurants in a rescue deal after UK owner Hostmore fell into administration in September 2024.

 

The investors also acquired Evolv Collection, formerly D&D London, in late 2023.

 

In a post on LinkedIn, Simon Wilkinson, board director and operating partner at Evolv and TGI Fridays, said the London Brasseries deal took six months to complete.

 

The London Brasseries portfolio includes the Palm Court Brasserie, Boulevard Brasserie and Maxwell’s in Covent Garden, PJ’s (Polo Joe’s) in Chelsea, as well as the Old Compton Brasserie in Soho.

 

The business was established in 1972 by the late restaurateur and businessman Brian Stein when he opened the first restaurant, known as Maxwell’s Bar & Grill, in Hampstead, which subsequently moved to its current location in London’s Covent Garden.

 

By 2010, the Maxwell’s Group, as it was formerly known, employed 400 staff and venues included Maxwell’s Bar & Grill; Maxwell’s Oxford; PJ’s Bar & Grill on Fulham Road; Roadhouse in Covent Garden; Sticky Fingers in Kensington; the Palm Court Brasserie in Covent Garden; and Café de Paris in the West End.

 

Despite combined turnover approaching £30m, the impact of coronavirus closures and restrictions hit the business with only three of its venues – Old Compton Brasserie, Maxwell’s Bar & Grill and Palm Court Brasserie – considered viable to reopen in July 2020.

 

After appointing liquidators in December 2020, it re-established itself as London Brasseries following the restructuring of Maxwell’s Group.

 

Wilkinson said of the acquisition: “We are thrilled to welcome the London Brasseries family into our hospitality portfolio. We look forward to working with and supporting the entire team, ably led by managing director David Solomon. We remain committed to supporting great restaurants which continue to resonate with our consumers in London.”

 

David Solomon, managing director of London Brasseries, added: “We look forward to embarking on this new journey with Breal and Calveton and to building upon the strong foundations that have made London Brasseries the successful restaurant group we are today.”

 

Calveton also backs Byron, while Breal’s investments include wine bar group Vinoteca and Black Sheep Brewery.

 

Terms of the London Brasseries deal were not disclosed.