Department of Coffee & Social Affairs has acquired Baker & Spice, the small London cafe chain from Patisserie Holdings plc for £2.5m.
This transaction follows the news that the Patisserie Valerie chain had sold to Irish private equity firm Causeway Capital, and sandwich chain Philpotts was sold to food retailer AF Blakemore.
The Baker & Spice chain, which opened the first site in 1995 in London's Wardour Street, offers gourmet Mediterranean-style pastries, breads and salads served up in deli-cafes with pavement tables. The sites are in Belgravia, Chelsea, Maida Vale and in Selfridges, Oxford Street.
The first Department of Coffee and Social Affairs opened in 2010, and the growing business now has cafes in both the UK - in London (14), Bristol (1), and Manchester (1), with more planned, and the US in Chicago (3). There are also four London workplace sites too, with one in Manchester set to open soon.
