Leon co-founder John Vincent has repurchased the healthy fast-food chain from Asda, aiming to steer it “back to its core values.”
Vincent founded Leon in 2004 alongside healthy food advocate Henry Dimbleby and chef Allegra McEvedy. They sold the business in 2021 to the billionaire Issa brothers, owners of the petrol forecourt company EG Group, for a reported £100m.
Two years later, ownership passed to sister company Asda as part of a £2bn deal aimed at reducing EG Group’s debt.
However, Leon has faced criticism for moving away from its original healthy ethos, introducing higher-calorie menu items like burgers, chicken nuggets, and cookies.
Leon’s 71 restaurants are now back under Vincent’s ownership, with the terms of the deal remaining undisclosed.
Vincent said: “Today I have bought back Leon. For 17 years, it was the greatest gift to build a company dedicated to helping people enjoy Naturally Fast Food. My time away from Leon has given me new perspectives – and I’m excited by what we can achieve for people this time round. There will likely be some big decisions ahead, but first we need to take a good look under the bonnet.
“First and foremost, we have to focus on the basic Leon promise of the best fast food served with the biggest welcome. If you are a Leon guest, I want you to know we are on the case. We will now get on with dedicating ourselves to your enjoyment and to your health.
“I would like to thank Asda and TDR for their stewardship of Leon and for their conduct in this deal. TDR have a strong track record of supporting food and beverage businesses in the UK and have been a pleasure to engage with during this process.”
An Asda spokesperson said: “We would like to thank Leon colleagues for their contribution and hard work during the last two years as part of the Asda business and wish them all the best as they move forward under new ownership.'
