PKF Smith Cooper has revealed its role in the acquisition of 19 sites of Mediterranean restaurant chain The Real Greek, a deal that safeguards almost 360 jobs.
Earlier this month it was confirmed that The Real Greek will shut nine restaurants with 151 job losses after the hospitality chain fell into administration. This came after Karali Group announced that it had struck a rescue deal for 19 of The Real Greek’s 28 venues across the UK.
PKF Smith Cooper provided due diligence and wider deal advisory services, led by its specialist Transaction and Advisory Services team across the Derby and Birmingham offices.
The core team comprised David Nelson, Tom Sinden, Deniss Sipovics, Brendan Nightingale and Amrit Singh, alongside corporate finance director and sector specialist David Crump. Jack Bonehill (employment tax director) and Kate Donlon (employment tax manager) also provided specialist employment tax due diligence support.
Nelson, senior partner, said: “Our longstanding relationship with the Karali team allowed us to act decisively in a complex process, delivering a smooth transaction.
“We wish them every success with The Real Greek going forward.”
Karali Group was advised on the legal aspects of the deal by James Davison, Victoria Procter and Lydia Demnitz-King of Katten Muchin Rosenman UK LLP.
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