Gaucho holding company Lomo Bidco has acquired M Restaurants.
The transaction brings together M Restaurants’ three venues and Gaucho’s 16 sites.
As a result, Lomo Bidco will be renamed Rare Restaurants and will act as the holding company for the group, with M Restaurants founder Martin Williams assuming the role of CEO.
Gaucho and M will continue to operate with independent operational teams, but share one head office with a senior management team overseeing both brands.
Joining Williams in the management team are Jim Kottler, who comes on board as chief financial officer from D&D London; Jenna Bromage, who has been appointed brand and marketing director from Mondrian London/Morgan’s Hotel Group; and Gemma Meale, who takes the HR director position from Splendid Hotel Group.
Lomo Bidco’s acquisition of M follows the transaction to acquire in October 2018, which enabled Gaucho to successfully exit administration and save 750 jobs. Williams has been at the helm of Gaucho since.
“I’m excited by the coming together of Gaucho and M Restaurants,” says Williams. “Both brands are incredibly close to my heart and I am confident that together with Investec Bank plc and SC Lowy’s backing we have what it takes to build further on the success we’ve already achieved.
“When I created M, I hoped that eventually, we would find the right backers to offer our current shareholders a profitable exit, while propelling the company into a new chapter which would embrace our entrepreneurial spirit and commitment to an outstanding guest experience. I am delighted that we have found what promises to be a perfect partnership.”
A spokesperson for Lomo Bidco shareholders Investec and SC Lowy comments: “This is an exciting next chapter for both brands within the group. As Gaucho continues to grow steadily and build on an established presence, M’s dynamism and ongoing expansion makes it a perfect complement. We look forward to working with Martin and the team to drive both brands’ success.”