UK café chain Patisserie Valerie’s parent company Patisserie Holdings has sold its sister brand Baker & Spice has been sold for £2.5m.

The deal saw the struggling deli and bakery chain rescued from administration by UK café chain Department of Coffee and Social Affairs, which also operates chains in the US.

Baker & Spice has UK locations in Belgravia, Chelsea, Maida Vale, Oxford and Selfridges London.

Patisserie Valerie: Causeway Capital acquisition

The news follows the £13m deals for Patisserie Valerie and sister brand Philpotts announced yesterday.

Patisserie Valerie was sold to Irish private equity company Causeway Capital Partners while Philpotts was sold to food retail wholesale and distribution company A.F. Blakemore & Son. Together, the deals saved 117 stores and 2,000 jobs.

Patisserie Valerie went into administration last month, resulting in administrator KPMG closing 70 stores and cutting 920 jobs. Sports Direct CEO and retail boss Mike Ashley cancelled his bid to save Patisserie Valerie earlier this week.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

KPMG partner and joint administrator David Costley-Wood said: “To have been able to secure the future of the majority of the Patisserie Valerie and Philpotts business, along with such a significant number of jobs, all against a challenging backdrop, is really pleasing.

“It was clear from the outset of our appointment that the loyalty shown in the brands from their very many customers was a significant factor in ensuring that these businesses would remain part and parcel of our high streets.

“We are particularly grateful for the support of stakeholders, including the suppliers and employees, whose support throughout this process has been integral to securing such a positive outcome.”