Pub giant Mitchells & Butlers (M&B) has acquired a minority stake in 3Sixty Restaurants - the firm that operates the Ego restaurant chain, from entrepreneur Luke Johnson, who steps down as chairman.
The deal means that M&B has entered a formal partnership to accelerate the expansion of the Mediterranean-inspired Ego brand.
Ego already leases and operates three of the M&B sites as part of its 17-strong portfolio: the Hollybush in Stockton Brook, Stoke; Tumbledown Farm in Cannock, and the Fox Cub near Preston.
3 Sixty CEO, James Horler said, “We already enjoy a successful trading relationship with Mitchells & Butlers, so the establishment of this joint venture feels like a logical progression, leaving us well placed to grow the Ego brand in future.”
Chris Hopkins, M&B's commercial and marketing director, said, “We’re delighted to formalise our partnership with the Ego team. Working together presents us with a great opportunity to learn from each other’s businesses and experiences to the mutual benefit of both companies.'