Asda has sold the Leon fast-food chain back to its co-founder John Vincent, marking a significant reversal for the supermarket’s ownership of the healthy-eating brand.
Vincent, who originally co-founded Leon in 2004, has said that he intends to restore the chain to its original values and vision.
“My time away from Leon has given me new perspectives – and I’m excited by what we can achieve for people this time round,” he said. “There will likely be some big decisions ahead, but first we need to take a good look under the bonnet.”
The deal’s value has not officially been disclosed, however a report from The Times claims that Vincent paid between £30 million and £50 million, a figure which is well below the £100 million that Asda’s owners, Mohsin and Zuber Issa, spent to acquire the brand in 2021.
The sale includes 46 company-owned restaurants, 20 UK franchise locations, as well as four international franchise sites. The company currently employs approximately 1,120 people.
Leon has faced declining sales and financial pressures amid what it has described as a “challenging” trading environment.
Recent accounts published by the firm showed sales down 3.7% to £62.5 million, while losses narrowed from £19.6 million to £8.4 million, partly due to easing electricity costs.
The restaurant chain’s other co-founder, Henry Dimbleby, has previously voiced frustration with Asda’s direction for the chain, accusing the brand of drifting away from its founding principles of healthy, convenient food, in The Telegraph last month.
“What they’ve gone to here is they’ve realised chips sell, air fryers sell – that’s the cheapest way to make money,” Dimbleby said. “But in the long-term, that’s going to destroy the brand,” he said at the time.
Originally known for its fresh salads and natural ingredients, Leon has expanded its menu in recent years to include items such as chicken nuggets and cookies.
The chain was part of a broader acquisition spree by the Issa brothers, who also invested heavily in petrol forecourts and roadside dining operations worldwide.
Vincent’s reacquisition could signal a potential shift back toward Leon’s original mission, which was promoting fast food “that’s good for you and good for the planet.”
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