The acquisition of Côte Restaurants by CBPE Capital in September 2013 stands as a landmark transaction in the UK casual dining sector, representing the transition of a founder-led "boutique" brand into a professionalized, scalable national platform. The deal was primarily driven by the exit of high-profile restaurant entrepreneur Richard Caring, who had provided the initial financial backing and strategic clout to launch the brand in 2007. By 2013, Côte had successfully navigated the post-recession landscape, proving that its "modern French bistro" model was not only resilient but highly profitable across diverse demographics. CBPE Capital’s primary strategic objective was to capitalize on a proven, high-performing restaurant format that displayed exceptional unit economics and a disciplined operational DNA. Unlike many of its competitors at the time, Côte had avoided brand overextension, maintaining a tight focus on quality, consistency, and a value-driven price point that appealed to both "special occasion" diners and regular mid-week customers. For CBPE, the investment offered a rare opportunity to acquire a business that had already reached critical mass with its existing footprint but still possessed significant white space for geographical expansion across the UK’s primary and secondary cities.

CÔTE RESTAURANTS, which reported an EBITDA margin of LOGIN in 2013, is valued in this transaction at an EV/EBITDA multiple of LOGIN, representing a LOGIN to the average currently observed in the Retail & Consumer sector (11.4x).

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