Kornicis Group
NBGI PE acquired 17 bar restaurants from the Food & Drink Group plc through a pre-packed sale out of administration.
The new company, Kornicis Group Ltd, includes 8 sites under the Jamies and Henry J Beans brands and 9 unbranded sites, as well as 17 Henry J Beans franchise sites in the UK and worldwide. NBGI PE is backing Nick Tamblyn, former Chief Executive of Chorion plc and developer of many well-known West End bar concepts, as Chief Executive to drive improvements to customer service and operations and refresh branding across the portfolio. In November 2008 Kornicis added two sites to the portfolio under the Smollensky’s brand. Kornicis will continue to look to expand through further similarly high quality acquisitions in this sector.
The deal is the fourth for NBGI Private Equity’s £100million second fund. Mark Owen and Nick Gibbons led the transaction for NBGI Private Equity, supported by Adam Lewis.
