Patisserie Holdings is reportedly planning to raise £35m from investors to take over Bread Holdings, the parent company of Gail’s Artisan Bakery and its wholesale business, The Bread Factory, according to Sky News.
Patisserie Holdings' executive chairman - restaurant mogul Luke Johnson - also owns Bread Holdings.
Sky reported, that according to insiders, a deal is unlikely to be agreed until March, and noted that Johnson is not involved in the negotiations because of the potential for his dual role to create a conflict of interest.
Launched in 2005, Gail’s Artisan Bakery operates 38 outlets, mainly across London, with five beyond the capital.