Durham City’s “first high-end” Asian fusion restaurant bought by local entrepreneurs

An Asian fusion restaurant in Durham City is under new ownership following the purchase of its entire issued share capital for an undisclosed sum by local entrepreneurs, Zak Newton and Sam Gadd.

Trading under a newly registered company, Zen UK Holdings Limited, the pair instructed local law firm Swinburne Maddison LLP in May to act on their behalf in the purchase of the restaurant business, which has been successfully owned and operated by Sam Gadd’s parents, Nigel and Deborah Gadd, for almost 15 years.

Swinburne Maddison worked closely with the Gadd’s’ retained accountancy and business advisory firm, Azets, to conclude the deal, primarily ensuring that they implemented the agreed terms of the tax clearance provided by Azets and advising the new owners on areas of risk.

Swinburne Maddison’s Alex Wilby, a partner in corporate finance, mergers and acquisitions, commented: “We were delighted to be instructed by Zak and Sam as they embark on their ownership of Zen, which is a highly popular restaurant.

“Whilst this was a straightforward matter, we hope our work simply marks the start of a longer-term relationship with Zak and Sam, which may involve us in other areas of legal practice as the pair build their business empire in the future, which I am confident will be a huge success.”

When launched in 2008, Zen quickly established itself as the north’s “first high-end” Thai/pan-Asian fusion restaurant. It operates with an entire Thai kitchen team and a menu that is primarily authentic Thai-inspired dishes, balanced by a “western twist”.

Zak and Sam are no strangers to the hospitality industry, currently owning two other venues within Durham: Tango and the Rabbit Hole, which also offers “distinctive” pan-Asian fusion dishes.

They have both been involved in Zen in some capacity since 2020 and with its acquisition now complete, having seized on many different retailing concepts prior to Covid, the two entrepreneurs have their sights set on future expansion.

Zak explained: “Before the lockdown we operated several business concerns – from barbers’ shops and tattoo studios to blockchain and social impact concepts - but after taking a step back, we realised that time is on our side and some of the best opportunities are within our area of expertise.

“Since we have been involved with Zen, we have taken the business digital with our takeaways and reservations managed primarily online, as well as streamlining and improving systems - the most recent innovation being our revamped Fire Garden, which officially opened last month and is proving very popular with our customers.”

By Matthew Neville – Correspondent, Bdaily

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