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Tue 18th Oct 2016 - Sodexo acquires Peyton & Byrne key contracts in pre-pack administration
Sodexo acquires Peyton & Byrne key contracts in pre-pack administration: Sodexo has bought the public catering contracts business of Peyton and Byrne, which operates the food and drink outlets at some of London’s most high-profile visitor attractions, in a pre-packed administration. The company lost key contracts at the Royal Botanical Gardens and the British Library earlier this year. Peyton & Byrne, founded by Oliver Peyton and Siobhan Byrne, made an operating loss of £711,000 on turnover of £25m in the year to March 2015 – the previous year it made an operating loss of £2.2m on a turnover of £22m, when it had an exceptional cost of £1m related to site operating losses as part of a contract in Brighton. Business Growth Fund made a £6.25m investment in Peyton & Byrne in 2013. In February this year, the company received £800,000 from the Business Growth Fund to meet a working capital shortfall – it had total historic trading losses of £2.2m at that point. Business Growth Fund had also provided loan notes totalling £4,150,000. Peyton and Byrne still operates contracts at the landmark locations of the National Gallery, the Royal Academy of Arts, the Imperial War Museum, the ICA and the Wallace Collection. These public catering contracts will be operated by Sodexo Sports & Leisure, Sodexo’s catering and hospitality partner for sporting venues, major events and visitor attractions in the UK and Ireland. This acquisition will accelerate Sodexo’s growth in the visitor attraction market and strengthen its presence in the capital, enabling Sodexo to create a platform from which to develop creative propositions for both its clients and customers. The newly-acquired public catering contracts will continue to be led by Oliver and Siobhan Peyton. Nathalie Bellon-Szabo, global chief operating officer Sodexo Sports & Leisure, said: “We are delighted to join forces with Peyton and Byrne to grow our business in London, a highly strategic market for Sodexo Sports & Leisure, which is already present in several museums and cultural attractions across the UK.” Chris Bray, chief executive Sports & Leisure, Sodexo UK & Ireland, added: “Sodexo and Peyton and Byrne have shared values that put our clients first and ensure we respond to their needs and the needs of the market. Oliver and Siobhan have built a truly aspirational brand in the London visitor attractions market. We are bringing together our resources, talent and expertise to develop an attractive customer experience that will deliver greater value to all our clients.” Oliver Peyton said: “I am excited about this opportunity, which is good news for the future of the Peyton and Byrne brand and Sodexo. Sodexo has a strong record in public catering, and I am looking forward, alongside Siobhan, to working with them in meeting the challenge of a highly competitive market and taking the public catering business of Peyton and Byrne to the next level.”


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