Member Article

The Gourmet Society goes Dutch in deal

The Gourmet Society, operators of a diners club which offers members discounts at over 6,700 partner restaurants, has been acquired by the Waterland Private Equity-backed Dutch company DIDIX BV.

The business, which is based in Stockport, was founded by entrepreneur Simon Leonard in 2003 and has seen revenues grow exponentially in recent years.

The consideration was not disclosed but the deal sees Mr Leonard become a board member and shareholder of DIDIX BV and will stay with the firm along with its 40 employees.

Simon Leonard will head up UK operations as well as looking to expand the Gourmet Society operation across Europe building on the existing European operations of Didix. The Gourmet Society will continue to trade under the same name.

The deal also sees DIDIX acquire The Restaurant Choice which has been run by Simon Leonard with business partners Jenny Goddard and Ged Cuthbert. The Restaurant Choice sells vouchers which can be redeemed in a large number of independent and chain restaurants nationwide including Nandos and Pizza Express.

DIDIX BV issues gift cards for cinemas, restaurants, and other sectors and is based in Amsterdam.

Simon Leonard said: “It’s an exciting development for The Gourmet Society and will take our strong offer into Europe. We are already working with over 6,700 partner restaurants across the UK, offering diners superb value, and this deal will pave the way for rolling out the model far and wide.”

Grant Thornton Corporate finance acted as lead advisors on the transaction.

Ali Sharifi, Grant Thornton’s Manchester-based national head of corporate finance said: “The two businesses are a good strategic fit and focused on accelerating growth. The enlarged group is well placed to expand into other territories and adjacent offerings. Over 50 per cent of the deals we are working on are cross border and we’re delighted for Simon and his team.”

The Gourmet Society’s typical offers at participating restaurants give members a choice of offers such as two-for-one meals; 50% off the food bill; or 25% off the total bill including drinks.

This was posted in Bdaily's Members' News section by Simon Malia .