Greene King has appointed advisors at PwC to oversee the sale of bulk of its Loch Fyne restaurant business, MCA has learnt.
Earlier this year, the Bury St Edmunds-based brewer and pub operator appointed AG&G to market the then 31-strong brand, which it acquired in 2007.
It is thought that AG&G is still marketing a number of the sites but that PwC has been appointed to seek a group deal for the majority of the business, which currently operates 29 sites.
MCA understands that a handful of suitors had previously run the rule over the business, including Hugh Osmond, owner of the Strada and Coppa Club brands.
AG&G has sold a number of Loch Fyne sites over the last six months, including the restaurants in Loughton, Hertford and Beaconsfield, whilst other sites in Guildford and Reading have closed.
Earlier this month, MCA reported that Michael Horan had left his role as operations director at YO! Sushi to head up Greene King’s Loch Fyne division.
Horan replaced former Boparan Ventures chief executive Joe Teixeira, who is understood to be leaving for a new role in the Middle East.
It is thought that in light of the issues facing the wider casual dining market, Greene King is looking dispose of the chain and concentrate on its core pub and brewing business, which includes c3,100 pubs and hotels.
It is not the first time Greene King has explored a sale of the business it acquired in 2007 for £68m. Two years ago, it was understood that the Hungry Horse and Chef & Brewer operator was seeking offers for the then 38-strong chain. At the time, it was reported to be valued at £100m.
The majority of the restaurants are located in the south of the UK with the greatest concentration in the Home Counties. They are situated in a mixture of high street, town centre, leisure complex and shopping centre locations. Two restaurants are located in central London.
Most of the restaurants occupy character buildings, whilst three of the restaurants have letting bedrooms.
