Langan’s Restaurants, one of London’s best-known chains, which includes the flagship Brasserie off Piccadilly, has confirmed that it has received a new seven-figure investment that it hopes to use to take the business to the next stage of its development including new openings.
As revealed by M&C Report earlier this week, Brian Clivaz has joined the business as chief executive after leaving the Arts Club in Mayfair earlier this year.
Clivaz said that the business, which had been on the market for the last two years with a price tag of up to £10m, had received the investment from a group of private investors through a new funding vehicle.
He said: “We will initially look at maximising the opportunities that currently exist across the existing estate, which it would be fair to say has not been performing to its full potential.
“Next year we will focus on the next stage of the group’s development and will look to add sites to the estate both in London and elsewhere.”
When asked if that would see Langan’s launch overseas, Clivaz said that the group would “walk before it could run”.
Clivaz said he remained a director at the Arts Club, which was relaunched earlier this year by new owners Arjun Waney, the Indian-born venture capitalist, and Gary Landesberg, the property developer.
It is thought that Waney and Landesberg are looking to launch the Arts Club format internationally.