Gordon Ramsay plots 100 U.S. restaurants with a new private equity deal by chloesorvino
Share to linkedinOn a given day at Caesars Palace in Las Vegas, chef Gordon Ramsay's eponymous Pub & Grill will make around $20,000 from fish and chips. The 1,200 square-foot space sees around 1,300 guests a day. Since debuting on the strip in 2012, Ramsay has added another location in Atlantic City. Combined, both have sold more than 300,000 fish and chips dishes."It's taken the nation by storm.
And now, Ramsay has inked a deal with Lion Capital, a private equity outfit with offices in London and Los Angeles which has scaled restaurants like wagamama, the pan Asian noodle chain, as well as brands like Kettle chips and Jimmy Cho. Lion now owns 50% of Gordon Ramsay North America, while the other 50% is controlled by Ramsay.
Ramsay already has eight restaurants across Las Vegas, Atlantic City and Baltimore, in partnership with Caesars Entertainment. There’s five concepts in Las Vegas, of which three are brands that will be expanded through the new deal — Gordon Ramsay Steak, Gordon Ramsay Pub & Grill, Gordon Ramsay Fish & Chips.
The restaurant concept, Gordon Ramsay Steak, launched in 2012 inside Caesar Entertainment's Paris Las Vegas Hotel & Casino on the Las Vegas Strip.The deal will also bring two more concepts to the U.S. - Gordon Ramsay Street Pizza and Gordon Ramsay Bread Street Kitchen, which he calls"a modern Cheesecake Factory." It already has successful locations in London, Hong Kong, Dubai and Singapore.
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