"Leon's co-founder John Vincent is in discussions to buy back the fast-food brand from Asda, in a move that could see him reclaim control of the chain for less than a third of its 2021 sale price. The entrepreneur, who founded Leon alongside Henry Dimbleby and Allegra McEvedy in 2004, is understood to be in advanced negotiations with Asda - which acquired Leon two years ago from the Issa brothers' EG Group."
"Under Asda's ownership, Leon has faced growing criticism for straying from its original "naturally fast food" ethos. Dimbleby, now a leading food policy campaigner, recently warned that the chain's commitment to healthy eating was being "destroyed", accusing its current management of chasing sales through "sugar, salt and cheapness" rather than nutritional quality. If completed, the deal would mark a return to familiar territory for Vincent - but also a major turnaround challenge."
John Vincent, a Leon co-founder, is in advanced talks to buy back the Leon chain from Asda for an estimated £30 million to £50 million. The Issa brothers bought Leon in 2021 and transferred it to Asda in 2023 as part of a £2 billion refinancing exercise. Under Asda, Leon has been criticised for moving away from its "naturally fast food" ethos, with Henry Dimbleby saying healthy commitments were being "destroyed" and management chasing sales through "sugar, salt and cheapness". Sales fell from £64.9m to £62.5m in 2024, with pre-tax losses narrowing to £8.4m from £19.6m. Industry sources say a full turnaround would be required amid a crowded fast-casual market and Asda's wider debt pressures.
Read at Business Matters
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