Hartford gobbles up Beans

AIM-quoted restaurateur Hartford, which runs Jamies bars, has bought American-style chain Henry J Beans for £5.8 million from a consortium of investors including the Guinness Flight, Elderstreet and Chrysalis VCTs.

The London-based group was established 21 years ago and now has five UK sites as well as franchises overseas. In the year to March the outlets made a £600,000 operating profit on £5.8 million sales.

Managing director Douglas Smillie, who bought out the group from previous owners Capital Radio in 1999 with the VCTs’ support, will remain with the business.

Hartford’s chairman Stephen Thomas said ‘Henry J Beans has stood the test of time in a constantly changing marketplace and has significant expansion potential.’

Leslie Copeland

Leslie Copeland

Leslie was made Editor for Growth Company Investor magazine in 2000, then headed up the launch of Business XL magazine, and then became Editorial Director in 2007 for the online and print publication portfolio...

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