Taylor Wessing advises on management buy out of Gaucho Grill restaurants in £20.5 million deal

Taylor Wessing has advised the executive management of the Gaucho Grill chain of Argentine steak restaurants, including Chief Executive, founder and long term client Zeev Godik, in connection with a £20.5 million management buy-out, backed by Barclays Private Equity.

The deal resulted in the acquisition by Barclays of a 47% interest in the business and involved the transfer of eight Gaucho Grill restaurants (including those at Swallow Street and Canary Wharf in London, St Mary’s Street, Manchester and one in Amsterdam), a franchise business in the Middle East and the Destino nightclub in London.  UK director of Operations, Donald Storey and Finance Director Simon Coulthard, who were also advised by TW, received minority shareholdings in the business.

Paul Burke, corporate partner, commented,

"We are delighted to have advised Zeev, Donald and Simon on this buy-out deal, which should offer them an exciting opportunity to oversee the rapid expansion of the business over the next few years."

In addition to Paul Burke, who led the transaction, other TW lawyers advising were corporate partner Tim Eyles, Nick Hazell, John Blackburn and Andrew Brizell (corporate), Real Estate partner Richard Grosse, Lorraine McDonagh (real estate) and Leigh Lisk (tax).

Barclay's Private Equity was advised by Addleshaw Goddard and the Royal Bank of Scotland by Pinsent Masons.