Private Equity

Gaucho owner holds out for better offers

Valuation stalemate comes amid pressures in the casual dining sector

Gaucho opened its first Argentinian restaurant in London in 1994, and has been through several rounds of private equity ownership.
Gaucho opened its first Argentinian restaurant in London in 1994, and has been through several rounds of private equity ownership. Photo: AFP/Getty Images

The owner of Argentinian-themed steak chain Gaucho is holding out for better offers after taking interest from private equity firms about selling the group.

In a sign of the current stalemate over market valuations, Investec and SC Lowy have not found a buyer willing to meet their price for Rare Restaurants, which owns brands Gaucho and M.

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