Fri 20th Mar 2026 - Exclusive: Luke Johnson, Prezzo’s backer and Fulham Shore co-founder amongst parties running rule over Franco Manco owner Exclusive – Luke Johnson, Prezzo’s backer and Fulham Shore co-founder amongst parties running rule over Franco Manco owner: Serial sector investor Luke Johnson, Brava Hospitality Group – the Cain International-backed owner of Prezzo Italian – and Nabil Mankarious, the co-founder and former managing director of Fulham Shore, are understood to be amongst the parties running the rule over the Franco Manca and The Real Greek owner, Propel has learned. Propel revealed last month that Fulham Shore, which operates the circa 70 strong Franco Manca and 28-strong The Real Greek restaurant brands, had appointed advisors to review its strategic options to ensure both brands are “on the strongest possible footing to realise their long-term potential”. The company, which is backed by the Tokyo-listed Toridoll and Capdesia, is working with Alvarez & Marsal on the process, which could include a sale of all or parts of the company, or a restructure of the business. Propel understands that indicative offers for whole or parts of the business are due on Monday (23 March), and that several parties have expressed an interest in the company and brands. Those include Johnson, former chairman and backer of PizzaExpress, who previously looked at acquiring the then six-strong The Real Greek in 2011; and the James Brown-led Brava Hospitality Group, which recently relaunched Jamie’s Italian in the UK. At the same time, Mankarious, who was instrumental in the growth of Fulham Shore, is believed to be looking at taking back the majority of the business he stepped down from in 2024. Since leaving Fulham Shore, he has invested in the likes of pizza brand 081 Pizzeria, fresh pasta concept Pastino, Santa Maria and partnered with Martin Kuczmarski, former chief operating officer at Soho House, on his two new ventures – Martino’s and Dover Street Counter. He also backs Myrtos by Asimakis, the Mediterranean restaurant in London’s South Kensington. Propel also understands that Cherry Equity Partners – the investment vehicle led by Ed Standring and Jamie Barber and backed by an international family office, which already backs the likes of Bistrot Pierre and Gusto Italian – has also run the rule over the business. The Karali Group, which last year acquired Côte, the French brasserie brand, and was an interested party for The Revel Collective, is also considering an offer for parts of Fulham Shore, believed to be The Real Greek. Dunham Massey Investment Group, the investment group led by pop star turned hospitality entrepreneur Recardo Patrick, which acquired the three-strong Proove Pizza business last year, has also been linked to the process. Propel understands that HSBC currently holds circa £5m debt against Fulham Shore and that any deal would have to clear that and inject further funds into the business. Yesterday, Sky News reported that Fulham Shore is contemplating a formal restructuring of The Real Greek. It said that Fulham Shore is at the early stages of considering options, including a company voluntary arrangement (CVA). Toridoll partnered with Capdesia to take Fulham Shore private in spring 2023, in a deal that valued the business at circa £93.4m. Last month, Khan, chief executive of Fulham Shore, told Propel: “While sales performance across Franco Manca and The Real Greek remains relatively robust, the current macroeconomic environment continues to place pressure on parts of the casual dining sector. Against this backdrop, Fulham Shore has appointed Alvarez & Marsal to undertake a thorough review of strategic options to ensure both brands are on the strongest possible footing to realise their long-term potential. There is no fixed timetable for this review, and no certainty that it will result in any particular outcome. Any decisions will be taken carefully, with a clear focus on long-term value creation and sustainability.” Franco Manca reported turnover increased to £70,105,000 for the year to 31 March 2024 compared with £64,504,000 the previous year. Headline Ebitda stood at £5,903,000 compared with £7,285,000 the previous year. Pre-tax losses grew to £3,404,000 from £413,000 the year before. In the same period, The Real Greek saw turnover increase to £37,105,000 compared with £35,951,000 the previous year. Headline Ebitda stood at £1,233,000 compared with £3,009,000 the year before. Pre-tax losses were up to £2,876,000 from £394,000 the previous year. Fulham Shore features in the Who’s Who of UK Hospitality, which is one of six databases exclusive to Premium Club subscribers. The latest edition features 1,493 companies. The companies, listed in alphabetical order, have their most recent developments reported as well as broader information around Ebitda, plans and trading style available. The database merges Companies House information, interviews and other public information to provide an easy to reference and exhaustive guide to the sector. A Premium Club subscription costs an annual sum of £495 plus VAT for operators and £595 plus VAT for suppliers. Companies can now have an unlimited number of people receive access to Premium Club for a year for £995 plus VAT – whether they are an operator or supplier. Email kai.kirkman@propelinfo.com today to sign up.