Leon founder buys back restaurant chain from supermarket giant
Around 1,120 staff across the chain will transfer to the new ownership
The fast-food chain Leon has been reacquired by its co-founder, John Vincent, from Asda.
This follows its takeover by the billionaire Issa brothers four years ago.
Asda confirmed the sale to Mr Vincent, who co-founded Leon in 2004. The deal includes 46 Leon restaurants, 20 UK franchises, three franchised sites in the Netherlands, and one in Italy. Approximately 1,120 staff across the chain will transfer to the new ownership.
The Times reported earlier on Friday that Mr Vincent could pay between £30 million and £50 million for the chain.
This would mark at least a 50% discount on the £100 million reported purchase price in 2021.
Asda did not disclose the sale price, and declined to comment on reports the brand was being bought back at a large discount.
The grocer said the sale reflects efforts to focus on its core retail operations, which incorporates its supermarkets, cafes, pharmacy, and fuel business.
Mr Vincent created Leon with Henry Dimbleby and chef Allegra McEvedy to focus on healthy fast food.
It was sold to Mohsin Issa and Zuber Issa’s business EG Group in 2021 before becoming a part of their Asda business in 2023.
Mr Dimbleby recently warned that the Leon brand could be “destroyed” under Asda’s ownership.
In an interview with The Telegraph, he said the company was abandoning its original goal of selling food that is “convenient and healthy” in favour of “cheap”, unhealthy alternatives.