Luke Johnson’s private equity fund Risk Capital Partners has purchased a majority stake in Patisserie Valerie.

The London-based chain – established in Soho in 1926 – comprises 10 sites in central London, which sell cuisine made using traditional methods.

Johnson plans to expand the business – which has revenues in excess of £8m – nationally. He said: “We have significant experience of rolling out successful food and drink concepts, including PizzaExpress, Strada and Giraffe. Patisserie Valerie is a much-loved institution with tremendous heritage. We are confident there are many upscale locations across Britain’s cities which would love the authentic pastries, cakes and savouries supplied by Patisserie Valerie.”

Current owners Victor and Robert Scalzo will retain a minority stake.

This is the second investment made by Risk Capital Partners this month. Last week the company bought a significant minority stake in the UK’s largest independent supplier of fish to the catering trade --– Seafood Holdings. Details: www.patisserievalerie.co.uk or www.directseafoodslondon.co.uk