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Lloyd's private equity arm favourite to buy D&D London

Published:  10 December, 2012

Lloyds Bank's private equity arm LDC is in the running to buy the 30-strong restaurant group D&D London.

According to a report in the Sunday Times, LDC would acquire the 51% stake held by the business founder Sir Terence Conran, and a further 18% owned by Caird Capital. The management team would retain its 31% share.

LDC is the favourite to acquire the firm, although talks are still ongoing and a number of rival firms are still in the mix.

D&D's venues include Le Pont de la Tour, Bluebird Chelsea, Orrery and the recently-opened restaurant and bar complex warehouse conversion near Liverpool Street incorporating the New Street Grill, New Street Wine Shop and the Old Bengal Bar.

The business is named after Des Gunewardena and David Loewi who led the buyout of Conran Restaurants in September 2006. Since then the group has opened 10 new restaurants in London, Japan and Denmark. D&D has also recently launched a new events business, Cinnamon Candy, and also launched the 80-bedroom South Place Hotel complete with two restaurants near Moorgate in September.