Pembroke gives La Bottega a boost
Pembroke Venture Capital Trust, a listed vehicle managed by Oakley Capital, has made an equity injection of £960,000 into delicatessen chain La Bottega.
The vehicle also committed £1m in mezzanine debt as part of the management buy-in, which values the firm at £5m, according to reports.
The new management team will be led by Piergiorgio Lo Greco, who will assume the position of chief executive. Matt Hermer, CEO of bar and restaurant group Ignite Group, and Dinah Meister, former operations director at Wagamama, will join the firm as non-executive chairman and director of operations respectively.
The new owners will direct the funds towards the opening of at least 20 new sites by 2018.
Company
La Bottega is an Italian delicatessen chain based in London. The firm has stores in Chelsea, Belgravia, South Kensington, Ryder Street, Berners Street and Pont Street. Food is sourced either locally or directly from Italy.
The company was founded by Bepi and Roberta Augustin in 2005.
People
Andrew Wolfson is CEO of Pembroke Venture Capital Trust.
Advisers
Equity - Steptoe & Johnson (Legal); Sopher & Co (Financial due diligence, tax).
Management - Chiomenti Studio Legale (Legal).
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