CMS acts on sale of leading restaurant group MW Eat to Fairfax
CMS has acted for Echowalk Ltd (whose directors are Ranjit Mathrani, Namita Panjabi and Camellia Panjabi) on the sale of leading restaurant group MW Eat Limited (MW Eat) to certain affiliates of Fairfax Financial Holdings Limited (collectively Fairfax), a global holding company based in Toronto, Canada.
MW Eat is widely recognised for trail-blazing the Indian dining experience globally and owns some of the UK’s most acclaimed Indian restaurants including Chutney Mary, Amaya, Veeraswamy and Masala Zone. MW Eat was started by Namita Panjabi and Ranjit Mathrani with the creation of Chutney Mary in 1990 and Camellia Panjabi, the former Main Board Member at Taj Hotels, later joined them in 2001.
The acquisition will accelerate MW Eat’s growth strategy as Fairfax plans to make significant investments in the group to pursue international expansion. Namita Panjabi, Ranjit Mathrani and Camellia Panjabi will continue working with Fairfax to ensure a seamless handover.
The CMS team was led by David Roberts and included Jack Richards, Carys Holland and Igor Pemberton (Corporate); and Rebecca Stewart and Alexander Oldland (Tax).
David Roberts, CMS Partner and Head of Leisure at CMS UK, comments: “Our team wants to congratulate Ranjit, Namita and Camellia for building an amazing group of institutional restaurants, frequented by generations of royals and Londoners in equal measure. It is hugely comforting for the London restaurant community that these gems will remain in safe hands, perhaps for another 100 years to come. Thanks to Jack Richards and my team for getting this landmark deal done. We will certainly miss lunchtime catch ups with Ranjit at all the iconic restaurants, although he assures us there will be plenty more to follow!”
Ranjit Mathrani, Chairman of Echowalk Limited adds: “It’s been a great adventure to be working with David and his team to get this deal over the line. Namita, Camellia and I were impressed with his strategic and tactical skills and all their knowledge, experience and ability to see ahead and plan accordingly. They also did do so with charm and unflappability. It has been a great pleasure working with David and Jack Richards and I can see why they are the go-to advisers in the restaurant sector in the UK.”
With over 300 experts in 43 countries, CMS’s international Hospitality, Travel & Leisure team advises on M&A, financing, development & construction, leases, management and franchise agreements and tax structuring. In addition to advising investors and lenders, the firm also advises operators, brand owners, administrators, construction companies and technology providers.
