Rcapital Ltd., a U.K. investor in distressed assets, sold roadside restaurants chain Little Chef to Kuwait’s Kout Food Group after returning the company to profit.
Rcapital, which bought Little Chef in 2007, sold the restaurant chain to Kout, which already runs more than 40 Burger King and KFC outlets in the U.K., for an undisclosed sum, the company said in an e-mailed statement today.
“Looking back, Little Chef was the biggest and longest turnaround in our nine-year history,” Rcapital Chief Executive Officer Jamie Constable said in the statement.
Little Chef has been operating in the U.K. for more than 50 years, according to its website. The first restaurant opened in Reading, Berkshire, in 1958, the same year Britain got its first motorway. The chain currently employs 1,100 staff in 78 outlets and serves 3 million cups of tea a year.
“KFGR-UK has exciting plans to revitalise the Little Chef brand,” KFGR-UK Chairwoman Fadwa Al Homaizi said in the statement. “Little Chef will benefit from a process of brand renewal in keeping with current trends, supported by traditional British values.”
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