The owners of The Fat Cat Group, the high street operator, are understood to be considering a sale of the business and have appointed advisers, M&C Report understands.
The group, which comprises 11 sites under its Fat Cat Café Bar brand, is understood to have asked Coffer Corporate Leisure to sound out potential buyers on its behalf.
The 11 bars – located in Bangor, Cardiff, Chester, Derby, Leicester, Llandudno, London, Northhampton, Nottingham, Stoke and Wrexham – are thought to generate underlying profits of about £2m. It is thought the business would attract a price of between £12m-£15m.
The company was founded in 1992 in Bangor in North Wales by entrepreneurs Matt Saunders and Simon Patterson, who had studied together at the town’s university.
Last year the duo launched the Mole Face Pub Company with a plan to build a multiple-site gastropub business.
In 2006 the Fat Cat Group sold its Bluu brand, comprising bars in Liverpool, London, Manchester and Nottingham, to Marston’s for an undisclosed sum.
