Gaucho holding company Lomo Bidco has completed the acquisition of London-based restaurant chain M Restaurants on 3 April.
As part of the deal, Lomo Bidco will be rebranded as ‘Rare Restaurants’ and will act as the holding company for the group.
The transaction combines three M Restaurants locations and 16 Gaucho restaurants under Rare Restaurants.
Both restaurant chains will share a single headquarters and continue to run with independent operational teams. The company’s senior management team will oversee both brands from the head office.
In addition, M Restaurants founder Martin Williams will assume the role of CEO at Rare Restaurants.
Other appointments include Jim Kottler from D&D as the company’s CFO, Jenna Bromage from Mondrian London/Morgan’s Hotel Group as the brand and marketing director, and Gemma Meale from Splendid Hotel Group as the HR director of the group.
Williams said: “I’m excited by the coming together of Gaucho and M Restaurants. Both brands are incredibly close to my heart and I am confident that together with Investec Bank and SC Lowy’s backing we have what it takes to build further on the success we’ve already achieved.
“When I created M, I hoped that eventually, we would find the right backers to offer our current shareholders a profitable exit, while propelling the company into a new chapter which would embrace our entrepreneurial spirit and commitment to an outstanding guest experience.
“I am delighted that we have found what promises to be a perfect partnership.”
Zeus M&A managing director Dane Houlahan said: “We believe the new strategy behind Gaucho and its subsequent combination with M is a much needed positive piece of news for the UK restaurant sector.
It’s been a real pleasure to work with Martin and the wider team and we have no doubt the enlarged group with backing from its new owners will go from strength to strength over the coming years.”
Owned by Investec Bank and SC Lowy, Lomo Bidco acquired the steakhouse chain Gaucho that enabled its exit from administration in October last year.
Gaucho entered into administration after failing to secure a buyer for its restaurants in July this year.