Member Article

Posh fast food chain Leon to scale in the US following new funding

London-headquartered fast food business Leon has announced plans to expand into the US market after receiving a major £25m funding boost.

The chain, best known for its posh burgers, breakfasts and salads, has received investment from Swiss private equity firm Spice, which has given the investor a ‘significant’ minority stake.

It now means Leon, which began life as a single outlet on Carnaby Street in 2004, can put into place plans to open two new restaurants in Washington DC next year, alongside its ambitious programme to create 1,000 new jobs and 50 new restaurants within the next four years.

In comments reported by the Standard, Co-Founder John Vincent said that the firm would cautiously expand its presence across the Atlantic, despite having funds available for a more aggressive push.

He commented: “The principle is to fire bullets, then cannon balls. No one from the UK goes to America and sees it as an easy ride. Just because we speak the same language doesn’t mean to say we have the same culture. We’ll learn so much and make tonnes of mistakes.”

Fersen Lambranho, who heads up GP Investment, which owns a controlling stake in Spice, added: “We see Leon as an opportunity to replicate the great success of a former investment, Fogo de Chão, a Brazilian steakhouse that expanded into the US and is now listed on the Nasdaq.”