Gaucho calls in Hogarth

Gaucho Group, the Argentinean owner of the Gaucho steakhouse chain, has turned to the Hogarth Partnership as it looks to raise £50m in new funds through an IPO.

Beefing up: Gaucho is set to expand
Beefing up: Gaucho is set to expand

The group, which opened venues at London’s Tower Bridge and in Richmond earlier this year, wants to open 40 new restaurants.

Hogarth has experience in the restaurant business through its work with ­Domino’s Pizza, Clapham House and the Carluccio’s chain (PRWeek, 10 November 2005). It is tasked with attracting investors as the brand prepares for a return to the stock ­market after five years in private hands.

Gaucho chief executive Zeev Godik opened his first restaurant in 1976 in Amsterdam and took the firm private in 2002. He received ­financial backing from Barclays Private Equity and Phoenix Equity Partners.

Gaucho plans to make the most of a booming British restaurant scene, which has seen noodle bar company Wagamama hire bankers Numis Securities this week to look at its own potential £200m listing.

The share sale in early ­November should give ­Gaucho a market value of around £100m.

Gaucho runs 11 steakhouses – nine in London, one in Manchester and another in Amsterdam. Its next restaurant will open at the O2 in February 2008.

Hogarth associate director Fiona Noblet heads the account.

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