2020 annual review
Solvent sale of leading casual dining group Italian restaurant group Prezzo, with 180 sites across the UK, faced operational and financial challenges as a result of the introduction of COVID-19 restrictions and the repeated local and national lockdowns, which left the company increasingly cash constrained. Against this challenging background, FRP was appointed to advise on the potential sale of the business.
The transaction kept the business whole - a rare outcome in casual dining in 2020. Matthew Flower Corporate Finance
Outcome
Despite a continually changing operating landscape that led to uncertainty and variation of offers from interested parties, our Corporate Finance team ran a flexible and reactive sale process, working with all key stakeholders, that resulted in a solvent sale to Cain International. The transaction kept the business whole, a rare outcome in casual dining in 2020.
Special situations M&A
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