Calveton UK and Breal Capital have announced their acquisition of London Brasseries Ltd, the group behind five restaurants located in London’s West End.
The acquisition follows roughly a year after Calveton and Breal’s rescue deal to purchase 51 of TGI Fridays’ 87 UK restaurants. This was after the brand’s owner, Hostmore, entered administration in September 2024.
The investors also completed their acquisition of the Evolv Collection, formerly known as D&D London, in late 2023.
In a LinkedIn post, Simon Wilkinson, board director and operating partner at Evolv and TGI Fridays, revealed that the London Brasseries acquisition took six months to finalise.
The London Brasseries portfolio features Palm Court Brasserie, Boulevard Brasserie, and Maxwell’s in Covent Garden, PJ’s (Polo Joe’s) in Chelsea, and the Old Compton Brasserie in Soho.
The business was founded in 1972 by the late restaurateur and businessman Brian Stein, who opened the first restaurant, Maxwell’s Bar & Grill, in Hampstead before relocating it to its current site in Covent Garden.
By 2010, the Maxwell’s Group, as it was then known, employed around 400 staff and operated several venues, including Maxwell’s Bar & Grill, Maxwell’s Oxford, PJ’s Bar & Grill on Fulham Road, Roadhouse in Covent Garden, Sticky Fingers in Kensington, Palm Court Brasserie in Covent Garden, and Café de Paris in the West End.
Despite a combined turnover nearing £30m, the business was severely impacted by coronavirus-related closures and restrictions, leaving only three venues — Old Compton Brasserie, Maxwell’s Bar & Grill, and Palm Court Brasserie — viable to reopen in July 2020.
Following the appointment of liquidators in December 2020, the business re-emerged as London Brasseries after the restructuring of the 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.”
Following the appointment of liquidators in December 2020, the business re-emerged as London Brasseries after the restructuring of the Maxwell’s Group.
Calveton also supports Byron, while Breal’s portfolio includes the wine bar group Vinoteca and Black Sheep Brewery.
The terms of the London Brasseries acquisition were not disclosed.