Asda confirms sale of Leon to founder

The retailer has sold its 46 Leon restaurants and 20 UK franchises, along with three franchise sites in the Netherlands and one in Italy and said that 1,120 Leon staff will also be part of the deal.

Asda said the sale of Leon, which it acquired in October 2023 for £2bn from former owners the Issa brothers’ EG Group, would allow it to focus “on strengthening its core retail operations”.’

The supermarket said, however, that “food service remains a key differentiator for Asda and an integral part of its customer offering”. The retailer operates more than 300 food service sites and has partnerships with the likes of Greggs, Starbucks, Costa Coffee and Subway.

A spokesperson for the grocer said: “We would like to thank Leon colleagues for their contribution and hard work during the last two years as part of the Asda business and wish them all the best as they move forward under new ownership.”

Leon has come back into the ownership of John Vincent, who co-founded the business with Henry Dimbleby and Allegra McEvedy 21 years ago.

The terms of the deal have not been disclosed, but Vincent said: “Today I have bought back Leon. For 17 years, it was the greatest gift to build a company dedicated to helping people enjoy Naturally Fast Food. My time away from Leon has given me new perspectives – and I’m excited by what we can achieve for people this time round. There will likely be some big decisions ahead, but first we need to take a good look under the bonnet.

“First and foremost, we have to focus on the basic Leon promise of the best fast food served with the biggest welcome. If you are a Leon guest, I want you to know we are on the case. We will now get on with dedicating ourselves to your enjoyment and to your health.

“I would like to thank Asda and TDR for their stewardship of Leon and for their conduct in this deal. TDR has a strong track record of supporting food and beverage businesses in the UK and has been a pleasure to engage with during this process.”