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Clapham House finalises GBK deal six months early
05 Oct 2005
Clapham House Group, the investment vehicle set up by David Page and Paul Campbell, has finalised the purchase of Gourmet Burger Kitchen (GBK) six months ahead of schedule.
The restaurant group had paid £2.6m in cash for GBK in November 2004, however, an additional earn out payment of £7.4m was agreed as part of the original deal, valuing the business at £10m.
Following GBK’s strong trading over the past few months, Clapham House was able to pay the full amount early.
“GBK is performing strongly across its portfolio and our pipeline of new sites is developing well,” said Campbell.
GBK currently operates eight restaurants; in Battersea, West Hampstead, Putney, Fulham, Chiswick and Bayswater. Details: www.claphamhousegroup.com
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