Upmarket caterer Searcys, has been placed on the market with a price tag in the region of £25m-£30m.
The group, who operate a number of Champagne bars, a private members club at the top of the Gherkin at caters at prestigious venues such as Bleinham Palace in Oxfordshire.
Chairman Richard Tear, chief executive Doug Tetley and sales director Chris Maddison returned the firm to private ownership in 2010, after three years as part of the Alternative Hotel Group (now known at De Vere Group), with backing from investor Harish Patel. It is now thought that Searcys is on the market due to the ill health of current owner Patel.
The Daily Mail reported that although the process of the sale is still at an early stage, a range of private equity and trade players have already taken a look at the business. Advisor BDA has been hired to find a new buyer.
Latest accounts for Searcys showed pre-tax profit fell to £418,687 for the year to June 30, 2012 from £725,915 the year before. Sales stood at £46m, while underlying earnings have risen to £2.4m.