Belfast Telegraph

Avoca chain confirms talks with buyers to sell business

By Staff Reporter

Restaurant and retail chain Avoca - which operates in Belfast - is now in exclusive negotiations to sell the business, it is understood.

The company has 11 outlets in Ireland, including its shop and restaurant in Arthur Street in Belfast, and had been in discussions with a number of potential buyers.

"I can confirm that we are in an exclusive period of negotiation with a potential purchaser but would not like to comment further," Avoca chief executive Simon Pratt said.

Mr Pratt declined to name the prospective buyer. US catering giant Aramark has previously been tipped to buy the business.

Aramark did not respond to a request for comment.

It was previously reported that a delegation from the multinational, including executives from the US and senior members of the local Aramark management team, received a tour of Avoca's premises in May.

Mr Pratt said in January that he was expecting operating profits at the company to surge by 50% to over €3.3m (£2.35m) in the current financial year.

Belfast Telegraph