Cote, the French bistro chain, which was recently acquired in a c£250m deal by BC Partners, is looking to add further value to its business, which could include the acquisition of another business, M&C understands.
Talking to M&C, joint managing director Alex Scrimgeour said that in addition to the continued roll out of the 68-strong brand the group would “be looking at other things, whether that is M&A, or starting up a new thing ourselves”.
He said: “One way or the other it is highly likely we will do something over the next three to four years, which we hope will add value to the current business.”
Scrimgeour said that the work commissioned by BC Partners when the private equity firm did due diligence on the recent deal suggests that Cote could triple its presence in the UK, which would take it up to c200 sites. It will open its 70th site next month in Bishop’s Stortford.
He said: “But the truth is whatever we say now might change in three years’ time. The UK eating-out landscape is constantly changing and there will be places that we might not consider now but we could open in in the future and that will be the same for all our rivals.”
As revealed by M&C earlier this week, the group has secured its second site in Scotland and its first in Edinburgh.
The group, which earlier this month opened its first site in the country in Glasgow, has secured the former Aga shop at 51 Frederick Street, in the capital. An opening, subject to planning, is scheduled for the first quarter of 2016.
The company will soon open its 69th site in Canterbury.
