Liberty Corporate Finance is pleased to announce the completion of the secondary management buyout of rhubarb, the premium food and beverage operator by Livingbridge.
Originally established in 1996 as an events business, rhubarb expanded its activities in 2003 to include the operation of lease and concession contracts at iconic, high footfall locations, initially by providing high-end catering at Ascot Racecourse.
Today, the company operates long term contracts at venues including the Sky Garden at the 'Walkie Talkie' building in London, the Royal Albert Hall and events at the Goodwood Estate. It also provides bespoke catering solutions at around 600 events per year for a broad range of clients, from high profile charity galas for 2,000 guests to small, intimate dinners in country venues.
Liberty were introduced to the business in 2012 at the time of ECI’s investment in the business and were appointed by Rhubarbs CEO, PB Jacobse, to advise the management team on their incentive package in the new Livingbridge investment.
The investment from Livingbridge, will help rhubarb’s continued growth across the UK and internationally with the overall aim of doubling in size in the next four years. In addition, Richard Prosser, who has private equity expertise within the global leisure, travel and tourism industries, will be joining as Chairman on completion of the deal.
PB Jacobse, CEO of rhubarb, said:
“Liberty’s reputation travels ahead and they have certainly delivered on their promises. All in all, it has been a great process over the last 100 days and I have very much enjoyed working with Liberty. Thanks to their industry credentials, they have negotiated a very good deal for the Management Team and we are grateful for that!”