14 Oct 2019 | 04.24 pm
Leon On The Hunt For Restaurant Sites
Company says it has raised €3.6m
14 Oct 2019 | 04.24 pm
Restaurant chain Leon Ireland says it has raised €3.6m to fund expansion after opening the first Leon outlet in Temple Bar in May 2019.
The company said several new store announcements will be made before year end, and the venture is ramping up its search for suitable premises.
Founder and managing director Stuart Fitzgerald (pictured) said: “We have massive plans for Leon in Ireland, and having a great group of really seasoned, networked, value-additive investors and board members is extremely important to us in terms of delivering these plans.
“With our Dundrum restaurant due to open in March 2020 and two other high-profile city centre locations soon to be announced, our pipeline is being quickly delivered. We remain on the hunt for prominent, premium, high-footfall locations.”
Fitzgerald added: “Seeking out restaurant sites with a cultural backstory is something we are keen to do. Leon isn’t here to displace Irish businesses. We want to work with them and our many Irish suppliers, drive destination footfall and create new local jobs whilst delivering on our unique promise of Naturally Fast Food.”
Investor Michael McElligott of Tetrarch, added: “Leon’s mission is to make it easy for everyone to eat well and live well. We offer good quality, affordable food and we do so on a basis that is kind to the planet.
“I’m particularly excited about the market opportunity here for Leon Ireland to really stand out from the crowd with its healthy fast food options delivered throughout the day. Management have a laser-sharp focus on our roll-out plan and growing the business to 20 stores within the next four years.”
A recent Companies Office filing (above) discloses a number of investors in the Leon Ireland operating company, including Charlie Scanlan, CEO of Jump Juice, and Michael Steel, managing director at Kiwi Education Ltd, a British national apprenticeship training provider based in Southampton. The allotment document did not disclose the amount of funding raised.
Leon was established in 2004 and has 69 locations in the UK, Norway and the Netherlands. The franchise venture is led by co-founder and CEO John Vincent and is backed by Brazil-based GP Investments and London-based Active Private Equity.
Pic: SON Photographic