At what enterprise value was THE EVOLV COLLECTION acquired in 2023?

During the acquisition of THE EVOLV COLLECTION by CALVETON / BREAL CAPITAL in 2023, the company was valued at an estimated revenue multiple of below 5x. The transaction's Enterprise Value is estimated to be in the range of 50M - 150M GBP. By registering for free, you get access to complete and exact transaction details including enterprise value, revenue, and EBITDA. Additionally, our database shows that the Retail & Consumer industry currently tracks an average EBITDA multiple of 11.0x, providing a valuable benchmark for this transaction.

What was the EV/EBITDA of THE EVOLV COLLECTION when it was acquired by CALVETON / BREAL CAPITAL?

The estimated EV/EBITDA multiple for THE EVOLV COLLECTION is in the range of 10x - 18x. For comparison, the Retail & Consumer sector currently shows an average EBITDA multiple of 11.0x. Join our community for free to access full valuation data and industry trends.

What was the revenue of THE EVOLV COLLECTION at the time of the deal?

The revenue of THE EVOLV COLLECTION at the time of the deal is estimated to be in the range of 100M - 200M GBP. Register for free to access the full transaction report and exact valuation multiples.

What was the EBITDA of THE EVOLV COLLECTION during the acquisition?

THE EVOLV COLLECTION's EBITDA is estimated to be in the range of 5M - 25M GBP. Join our community for free to access complete and exact deal data.

What is Enterprise Value (EV)?

Enterprise Value (EV) is a measure of a company's total value, often used as a more comprehensive alternative to equity market capitalization. EV includes in its calculation the market capitalization of a company but also short-term and long-term debt as well as any cash on the company's balance sheet.

What is the EV/EBITDA multiple and why is it used?

The EV/EBITDA multiple is a financial ratio that compares a company's Enterprise Value (EV) to its Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA). It is widely used in M&A and valuation because it allows for comparisons between companies with different capital structures and provides a clear view of operational profitability.

How is the data for the THE EVOLV COLLECTION acquisition sourced and is it reliable?

Mynth data is contributed by a professional community of M&A and Private Equity experts. Each transaction, including the THE EVOLV COLLECTION deal, is systematically cross-verified by our team using private deal documents and official sources. You can also find the official press release for this transaction here: https://www.thisismoney.co.uk/money/markets/article-12637025/Trendy-restaurants-owner-D-D-London-sold-private-investors-60m.html

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Home Database Retail & ConsumerTHE EVOLV COLLECTION

10/2023

THE EVOLV COLLECTION acquired by CALVETON & BREAL CAPITAL

UNITED KINGDOM Hospitality & Leisure / Hospitality / Restaurants / Chains EV 50M - 150M GBP

Context

D&D London has been acquired by a consortium consisting of Calveton and Breal Capital. The deal follows a period of financial instability for the group and includes a critical £40 million balance sheet recapitalization to facilitate future growth and investment in new sites. Unlike traditional private equity, the buyers are investing "patient money" (proprietary capital) without rigid exit horizons, focusing on the long-term preservation of the group's heritage. David Loewi, co-founder and CEO, remains a shareholder and leader of the business. The strategic rationale for the acquisition is to stabilize the group's finances after pandemic-induced losses and to provide a platform for international expansion. Calveton (owner of Byron) and Breal (owner of Vinoteca and Black Sheep Brewery) leverage their specialized hospitality expertise to professionalize the group's management, including the appointment of a Chief Advancement Officer. This transaction highlights a major consolidation trend in the premium UK dining sector, where distressed high-profile assets are rescued by specialized turnaround investors seeking to capitalize on strong brand equity and recovered post-pandemic consumer demand.

THE EVOLV COLLECTION, which reported an EBITDA margin of LOGIN in 2023, 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 (11.0x).

Note that this data is based on contribution from our growing community, composed of M&A and Private Equity professionals, and has been verified by our team to ensure its accuracy.

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Target

The Evolv Collection (ex D&D London) is a prestigious global restaurant group operating a portfolio of approximately 40 high-end restaurants, bars, and a luxury hotel (in 2023). Originally founded in 1991 by Sir Terence Conran as Conran Restaurants, the company was rebranded in 2006 and is known for iconic venues such as Quaglino’s, Bluebird Chelsea, Coq d’Argent, and German Gymnasium. Its business model centers on "fine dining as an experience," combining culinary excellence (including Michelin-starred Angler) with landmark architectural locations in major cities including London, Manchester, New York, and Paris. The group targets high-net-worth individuals and corporate clients, offering a diverse range of concepts from classic French brasseries to trendy rooftop bars. The group’s value proposition lies in its ability to curate "memorable experiences" through high-quality food and distinctive restaurant identities, maintaining a dominant presence in the premium segment of the UK hospitality market.

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Similar deals in Retail & Consumer

List of similar M&A transactions (Date, Acquirer, Target, Country, Sector, Deal Context)
Date	Acquirer	Target	Country	Sector	Deal Context
12/2023	SHAMAL HOLDING	SUSHISAMBA GROUP	UNITED KINGDOM	Hospitality & Leisure	Shamal Holding, a Dubai-based investment firm, completed the acquisition of the remaining stake in SUSHISAMBA Group, taking full controlling interest in the global restaurant brand. This transaction represents the culmination of a decade-long partnership, as Shamal Holding had been a fifty percent owner of the brand since 2014
11/2023	GENERAL ATLANTIC	JOE & THE JUICE	DENMARK	Hospitality & Leisure	General Atlantic acquired a majority stake in Joe & the Juice from Swedish private equity firm Valedo Partners. The deal is structured as a buy‑out of Valedo’s entire holding, which fully exits the business, while General Atlantic, which has been a minority investor since 2016, steps up to majority control
10/2023	LOV GROUP	ANGE BOULANGERIE	France	Hospitality & Leisure	Ange Boulangerie's founders executed a significant strategic transaction by opening the company's capital to an external investor for the first time since its creation. The company sold a 35% minority stake to Lov and Bread, the food-focused investment fund of Stéphane Courbit's Lov Group
09/2023	MCWIN CAPITAL PARTNERS	BIG MAMMA	FRANCE	Hospitality & Leisure	McWin Capital Partners agreed to acquire a majority stake in Big Mamma Group in an leverage buy‑out operation. The founders Tigrane Seydoux and Victor Lugger retaining minority stakes and continuing as co‑CEOs and key shareholders, while a broad group of earlier investors exits the cap table
09/2023	PARADIES	TASTES ON THE FLY	UNITED STATES	Hospitality & Leisure	Paradies Lagardère, the North American division of Lagardère Travel Retail, executed the acquisition of Tastes on the Fly to significantly bolster its Foodservice operations across the continent. This strategic move is a cornerstone of the acquirer's ambition to become one of the largest and most respected airport restaurant operators in North America
08/2023	RESTAURANT BRANDS	FIESTA RESTAURANT	UNITED STATES	Hospitality & Leisure	Authentic Restaurant Brands, a Garnett Station portfolio company, agreed to acquire Fiesta Restaurant Group, Inc. for $8.50 per share in cash, taking Pollo Tropical private. The all-cash deal, unanimously approved by Fiesta's board via special committee, includes a 30-day go-shop and awaits shareholder vote, HSR clearance, closing Q4 2023
07/2023	TORIDOLL HOLDINGS CORPORATION / CAPDESIA GROUP	THE FULHAM SHORE	UNITED KINGDOM	Hospitality & Leisure	Toridoll Holdings Corporation, in partnership with the restaurant-specialist private equity firm Capdesia, has completed the acquisition of The Fulham Shore (Franco Manca and The Real Greek restaurant brands)
06/2023	AZZURRI GROUP	BOOJUM	Ireland	Hospitality & Leisure	Azzurri Group acquired a controlling interest in the Irish-based Mexican restaurant chain Boojum from its previous majority owner, private equity firm Renatus Capital Partners. This strategic transaction marks Azzurri's entry into a new cuisine category, diversifying its portfolio beyond its established Italian brands like Zizzi and ASK Italian
05/2023	PAI PARTNERS	LOOPING GROUP	FRANCE	Hospitality & Leisure	PAI Partners has signed a definitive agreement to acquire a 75% majority stake in Looping Group from Mubadala Capital and Bpifrance. This transaction marks the fourth leveraged buyout for the group. The founding management team will retain a 25% minority interest and continue to lead the group’s ambitious growth strategy
02/2023	ADAMANTEM CAPITAL	RETAIL ZOO	AUSTRALIA	Hospitality & Leisure	Adamantem Capital acquired a 70% majority stake in Retail Zoo from Bain Capital. The transaction is structured as a mid‑market buyout through Adamantem’s second mid‑market fund, with the remaining 30% ownership retained by the existing management and founder‑shareholders, including Retail Zoo CEO Nishad Alani and founder and chair Janine Allis

REFERENCES

Valuation range: EV 50M - 150M GBP

Revenue range: 100M - 200M GBP

EBITDA range: 5M - 25M GBP

Note: This page provides detailed data on a private equity M&A transaction. Detailed and exact financial metrics for the acquisition of THE EVOLV COLLECTION by CALVETON / BREAL CAPITAL are reserved for mynth community members. Register for free to unlock full data.

Authors: verified mynth contributor (mynth data is contributed by M&A / PE professionals and systematically cross-verified with private deal documents and official press releases).

Target: the evolv collection

Acquirer: breal capital / calveton