M&H Corporate Finance were appointed by Davy’s to conduct the financial due diligence in respect of their purchase of El Vino, a well known chain of wine bars and restaurants based in the City of London.
El Vino is a chain of wine bars and restaurants based in the heart of London which was established as Bower & Co in 1879. The Fleet Street location was historically a famous haunt for newspaper and media editors as the area was the home of British national newspapers until the 1980s.
The current management team were looking to exit the business and was approached by Davy’s who, being a long established wine merchant in the city themselves, saw the chain as a good strategic fit for their existing operations. Davy’s is a family owned business that was established in 1870 and the senior management team is currently led by Chairman James Davy, the 5th generation of the Davy family to head the business.
Phil Fenn, Partner at Mercer & Hole said “Due to the extensive knowledge and experience our Corporate Finance team have in the Hospitality and Leisure sector, we were able to evaluate El Vino and its operations, identify and advise Davy’s on a number of issues and then provide input during price negotiations.”
Fellow Partner, Ross Lane, added “To be approached by such a reputable business such as Davy’s is a testament to our Corporate Finance team and our experience in the sector. It was a great opportunity to work with such a prominent business and enabled us to demonstrate our in-depth experience of working on these types of transactions.”
For further details, please see the respective websites: Davy’s at http://www.davy.co.uk/ and Mercer & Hole at http://www.mercerhole.co.uk/
