Reed Smith, DLA and Olswang dine on £100m Côte restaurant sale

Reed Smith, DLA Piper and Olswang have won lead advisory roles on the sale of French bistro chain Côte to private equity firm CBPE Capital.

The  £100m deal will see British high-street tycoon Richard Caring, who also owns a majority stake in private members club Soho House, sell his stake in the business.

Reed Smith advised CBPE Capital on the sale, led by London-based corporate partner Philip Taylor. This is the third deal Reed Smith has advised CBPE on, with Taylor advising alongside the US firm’s London-based debt partner Philip Slater, property partner Jon Pike and tax partner Caspar Fox. 

Olswang is understood to have a longstanding relationship with Côte and subsequently landed a role advising the sellers, consisting of a management team led by Côte’s joint managing directors Harald Samuelsson and Alex Scrimgeour. The firm’s London-based team was led by corporate partners Mark Bertram and Nick Crosbie. 

Meanwhile DLA Piper’s head of London debt practice, David Miles, is understood to have acted for the funding banks. 

The chain was founded by a group of restaurateurs in Wimbledon, South West London, in 2007. A statement from CBPE confirms that the Côte management team and founders will be re-investing in the business.