The new Kuwaiti owners of the Little Chef have vowed to “revitalise” the well-known roadside restaurant chain following their purchase of the business earlier this month.
Kout Food Group (KFGR)-UK recently marked its entrance into the all-day breakfast and travel dining segment by acquiring the business from Rcapital, a private equity firm that specialises in business turnarounds.
Kuwait Stock Exchange-listed KFGR-UK has so far stopped short of revealing its investment plans for the chain, but Rcapital said that its commitment to grow the business was one of the main reasons its offer stood out from other bidders.
Fadwa Al Homaizi, KFGR-UK’s chairperson, said the firm would be looking at ways to reinvigorate the chain. “KFGR-UK has exciting plans to revitalise the Little Chef brand. Little Chef will benefit from a process of brand renewal in keeping with current trends, supported by traditional British values,” she said.
Little Chef employs 1,100 staff and serves more than six million customers a year. It has sites across Britain’s A-roads from Devon to Scotland and has been operating for the past 55 years.
Rcapital took over the business six years ago and admits that reversing its fortunes and getting it back to profitability represented the “biggest and longest turnaround” in its history.