Courtepaille: 4 takeover candidates, including Bertrand group and two investment funds

Four candidates have submitted an offer for the takeover of the Courtepaille grill restaurant brand, put in difficulty by the Covid-19 pandemic, the Bertrand and Buffalo Grill catering groups as well as the Butler Capital and Naxicap funds, learned on Wednesday. AFP from corroborating sources.

Read also: Buffalo Grill proposes to take over Courtepaille and keep 85% of jobs

Courtepaille had been placed in receivership on July 29 by the commercial court of Evry-Courcouronnes (Essonne), after a drop in activity due to the coronavirus and the refusal of a loan guaranteed by the State (PGE).

Monday, deadline for formulating a takeover proposal for the brand, " four takeover offers have been officially submitted by players in the catering sector and investors ", announced Wednesday a spokesperson for Courtepaille, property of the fund British ICG since 2011, without detailing the identity of the candidates.

They " mark the interest aroused by Courtepaille, coveted by four high-level candidates ," she said. The family restaurant chain born in 1961 saw its turnover, from 190 million euros in 2019, fall by “ 40% over the year ”.

The Bertrand group, number two in catering in France with a thousand establishments (Burger King, Hippopotamus ...) confirmed to AFP on Wednesday that it had submitted an offer, like the northern-style restaurant chain. -American Buffalo Grill. The latter plans to invest 100 million euros and keep 85% of jobs, its managing director announced Monday to Paris.

187 restaurants and 4000 jobs

The Courtepaille brand has 187 owned restaurants and 91 franchisees, which represent some 4,000 jobs, including 3,000 within the group and a thousand in franchise establishments, the spokesperson said on Wednesday.

As part of the call for tenders organized by the Lazard bank, the two other candidates in the running are two investment funds, Butler Capital Partners, specializing in the takeover of ailing companies (shareholder of the Partouche casino since 2011) and Naxicap, a shareholder in the Sushi Shop and La Boucherie restaurant chains, according to a source familiar with the matter.

These four offers make it possible " to consider the continuation of the recovery and renovation plan implemented since 2018 ", affirms Courtepaille, estimating that "a large part of the brands in branch would be taken over and associated staff as well as all franchisees ”.

Several " offer opportunities for reclassification and priorities for hiring, " says the brand, including 160 out of 278 establishments have reopened. The Evry commercial court is due to examine these offers during a hearing on September 14.