Bridgepoint leads Cote auction

Bridgepoint is believed to have outbid fellow private equity houses, including TA Associates and Investcorp, for the restaurants business, which is backed by business tycoon Richard Caring, owner of The Ivy and Le Caprice.

The GP had put in a bid at the beginning of the sale process but decided to withdraw, only to be invited back into the process later, sources have told unquote".

Cote was founded in London in late 2006. The business consists of a group of around 40 restaurants specialising in French food. The sale is being coordinated by Canaccord Genuity Hawkpoint, according to reports.

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