An Italian foodservice operator has bought Bagel Factory in a deal believed to be worth in the region of £2m.
The group was put up for sale last November and was advised in the process by leisure investment adviser Coffer Corporate Leisure.
It has been purchased by the Cremonini Group, which is one of the largest European food operators with a turnover of over €3bn.
Bagel Factory is the largest bagel operator in the UK and Ireland, with over 50 shops and franchise units, having opened its first store in London in 1997.
Locations include many of the UK’s major transport hubs, such as Waterloo, London Bridge, Marylebone, Paddington and Euston.
Mark Sheehan, managing director at Coffer Corporate Leisure, acted on behalf of the vendors, led by Geoff Westmore, former head of M&A at PwC Sheehan.
He said, “The sale process for Bagel Factory generated a really expansive range of interested parties, from the UK, as well as a number in mainland Europe. Cremonini Group is one of the biggest players in the European food industry and its strong links with on-board train catering, railway stations, motorway and commercial catering, means it is perfectly positioned to grow Bagel Factory further.”