Westbury Street Holdings (WSH), the parent company of BaxterStorey, has completed the acquisition of workplace catering provider Genuine Dining.
WSH emphasised that Genuine Dining will maintain its independent structure following the acquisition, which was finalised last week.
It has been disclosed that Luke Johnson, chairman and majority shareholder of Genuine Dining, is stepping down from the business after 14 years of active involvement.
In its most recent reported accounts, covering the period from 30 September 2022 to 30 September 2023, Genuine Dining recorded a turnover of £37.1 million, with an EBITDA of £1.7 million.
The company also reported a 38% year-on-year increase in sales growth and an operating profit of nearly £1.5 million across the group. Additionally, it secured 23 new contracts during the financial year.
Johnson, the former chairman of PizzaExpress and newly appointed chair of Revolution Bars, initially acquired a majority stake in the company, then known as Yes Dining, in 2011 through his private equity firm, Risk Capital Partners (RCP).
This investment marked Johnson's first venture into contract catering and resulted in the company's rebranding to Genuine Dining Co in the same year.
Yes Dining was previously owned by the Bright Futures Group (BFG), the former parent company of Restaurants at Work and Jill Bartlett, which BaxterStorey acquired in 2010 after they went into administration.
In 2017, Genuine Dining acquired the London-based Japanese restaurant group Feng Sushi, in which Johnson had previously held a majority stake. This led to the formation of Signature Dining, a new division focused on the care sector, which secured nine contracts and generated £3.5 million in its first year.
Mitchell received the Foodservice Caterer Award at the 2018 Cateys in recognition of his achievements.
After the pandemic, Mitchell and business development director Robbie Laidlaw trained to cross the Atlantic, successfully completing the journey in December 2023. Their achievement earned them the Extra Mile Award at the 2024 Cateys.
