Patisserie Holdings, the Risk Capital Partners-backed group and operator of the Patisserie Valerie chain, has acquired Philpotts Ltd, the independent premium sandwich and salad retailer with 23 shops in the UK, for an undisclosed sum.
Philpotts will become a fifth growth brand for the Paul May-led company joining Patisserie Valerie, Druckers, Baker & Spice and Flour Power City under the Patisserie Holdings umbrella. It takes the number of staff across the group to 2,800, and the number of outlets it operates across the country to 137.
May told M&C Report that the company was looking forward to the learnings that Philpotts could bring to the company’s whole estate, especially in the lunchtime market. He said that the acquisition would help the group’s aim of operating a 300-strong estate, including 200 units under the Patisserie Valerie brand.
Founded in 1985 by Phil Brown, the original Philpotts shop in Chester is still open today and the business has grown steadily in various city centres dotted through the Midlands, North and West of England and Scotland.
It serves a wide variety of fresh sandwiches, salads and hot dishes with a focus on Monday to Friday lunchtime trade. All such offerings are handmade on each site every day. It is famous for its freshly carved, hot rare roast beef and minted lamb sandwiches.
Luke Johnson, chairman and co-founder of Patisserie Holdings, said: “We are delighted to add the Philpotts brand to our family of businesses serving hungry customers who want a tasty, great value meal or snack. They specialise in providing corporate lunches, and we want to expand that offering to some of our other branches.”
May said: “Philpotts is solidly profitable, has a dedicated and professional workforce and a loyal and growing customer base, together with an excellent reputation, so we do not intend to convert any of their outlets to our other formats. We are delighted to welcome them to the Patisserie Holdings group and we look forward to supporting the continued development of this excellent business.”