Barclays Private Equity sells Gaucho Grill to Phoenix Equity Partners for £55 million

Barclays Private Equity, one of the most prolific mid-market private equity deal makers in Europe, has sold it’s 47 per cent in Gaucho Grill, one of the businesses in its consumer brands portfolio, to Phoenix Equity Partners in a secondary buyout valuing the business at £55 million.  

Founded by Zeev Godik in 1976, Gaucho is renowned for its high quality Argentine beef - considered to be among the best in the world – and its extensive Argentine wine list. The business has grown significantly since the original management buy-out with profits doubling over this period.  

Gaucho now has eight restaurants in the UK, one in Amsterdam and a franchise business in the Middle East. In the UK, the Company opened a new restaurant in Broadgate in the City in November 2005 and has recently expanded and refurbished its flagship restaurant in Piccadilly, London, with a wine shop specialising in Argentine wines and a transformed basement events venue. The transaction marks the start of an exciting new phase with an increasing number of new restaurants being opened each year.  

Zeev Godik, CEO and founder of Gaucho said: “Barclays Private Equity gave us very strong support during their involvement with Gaucho and there was good personal chemistry with their team.”  

Anton Wellenreiter and Dominic Geer led the investment for Barclays Private Equity.  

Anton Wellenreiter, director of Barclays Private Equity said: “Our experience of working with strong consumer brands, coupled with a high quality management team, led by Zeev Godik, has made Gaucho Grill a great investment.”  

New World Corporate Finance acted as exclusive financial advisers to the management team led by Zeev Godik and to Phoenix Equity Partners.  

Commenting, Nigel Berger, a managing director and founder of New World Corporate Finance said: “This is the 7th deal we have completed this year, and builds on our experience both within the leisure and consumer brands sector and the private equity mid-market.”