Vapiano’s UK restaurants have been bought by a group of investors led by former Vapiano director Mario Bauer in partnership with the Savour Group in a deal that safeguards 209 jobs.
Last month Bauer acquired the global Vapiano brand and franchising rights along with a number of restaurants in Germany, France, Luxembourg and Australia, before taking on the UK Vapiano business, which went into receivership in April.
He is now co-founder and CEO of the newly-formed Vapiano holding company, Love and Food Restaurant Holding.
The Vapiano investors have set up a partnership with Savour Group, a company founded by three family offices, the Dominvs Group, a privately owned group of companies focused on the hospitality, residential and commercial real estate sectors in the UK, Naveen Handa and Krit Srichawla.
Together, the joint venture will run Vapiano within the M25 and has acquired the Vapiano restaurants on Great Portland Street, Bankside and Tower Bridge.
The Savour Group will also enter a franchise agreement with Vapiano to operate its restaurants in Manchester and Edinburgh and says it is committed to opening more Vapiano restaurants across the UK.
Husnell Ahluwalia, Director of Dominvs Group said: “This is an exciting investment in the hospitality industry’s future,” Husnell Ahluwalia, Director of Dominvs Group.
“As a company, we are always on the lookout for great opportunities led by quality teams.”
Naveen Handa of the Savour Group said: ”This is a huge opportunity to look ahead at rebuilding an industry which has faced very challenging times recently.”
“We are delighted we have been able to safeguard the future of Vapiano UK and many of its employees. Vapiano is a strong brand and the new owners intend to continue to invest in this brand and are committed to its growth here in the UK.”
