D&D London sale could be on the cards

D&D London – which operates restaurants in the capital such as the Bluebird in Chelsea and Coq d'Argent in the City – is close to being bought by London-based Montecito Equity Partners in a £100m deal, Sky News has reported.

It is understood that Des Gunewardena and David Loewi would remain in their posts as chair and deputy chair, respectively, should the group be sold.

LDC, the private equity arm of Lloyds Banking Group, has owned a majority share in the business since 2013.

Loewi and Gunewardena created D&D London from a management buyout of Sir Terence Conran's restaurant company in 2006. It now has more than 45 restaurants and bars worldwide, as well as the South Place hotel in London, and generates annual revenues of around £150m. Sites include German Gymnasium in King's Cross, Le Pont de la Tour (pictured) overlooking Tower Bridge and 14 Hills in the City, as well as Klosterhaus in Bristol. Last month, the group opened Haugen in Stratford Pavilion.

No comment was available from D&D London, LDC or Montecito at the time of going to press.