CMS advises D&D London on acquisition by Calveton and Breal Capital

International law firm CMS has advised longstanding client D&D London on its acquisition by UK-based private companies Calveton and Breal Capital.

D&D London, previously Sir Terence Conran’s ‘Conran Restaurants’, is a restaurant group known for its portfolio of 40 iconic restaurants and bars across major cities in the UK, Europe and North America, including Bluebird Chelsea, Coq d’Argent near Bank and Queensyard New York. The deal will see David Loewi, D&D’s chief executive and co-founder, remain on the board as CEO and shareholder, and will provide strategic support to grow its portfolio in the UK and internationally. D&D’s existing shareholders, Beechbrook Capital and D&D management, will also remain as investors, with HSBC and Santander continuing to provide debt.

CMS Partner and Head of Leisure David Roberts commented: “D&D became a client in 2006 and we have supported the management team through multiple transactions and financings over the years. We are pleased to see that Des and David’s legacy will continue, and we congratulate Chris Howell, restructuring specialist, who successfully chaired the business and managed stakeholders to help achieve this result. We also want to wish David Loewi, the management team and the new owners the best with these wonderful restaurants.”

David led a multi-disciplinary team, including Lukas Vician, Maria Doran, Alexandra Stuart, Nick Crosbie (Corporate); Bruce Gavin, Ruth Marken, Charles Kerrigan, Paula Hryckowiak, Rob Ward, Katharine Lammiman and Honor Kunisch White (Finance); Matthew Speed, Marcus Barclay and Lucy Williams (Real Estate); and Julian Turner (Insolvency).