Leon builds appetite for float

By THIS IS MONEY
Updated: 05:00 EST, 10 May 2007

Speculation today mounted that the Robert Tchenguiz-backed Leon healthy fast-food chain is destined for a stock market flotation after it hired Coffee Republic's finance director to become its numbers man.

The appointment of Simon Drysdale, a finance director with experience at a stock market-quoted company, gives founders John Vincent and Henry Dimbleby the expertise to join the market.

Vincent, married to newsreader Katie Derham, and Henry, son of broadcaster David Dimbleby, launched Leon in 2004 after jobs as management consultants.

The chain has five eateries across London and is backed by private-equity firm Active Investment Partners and Tchenguiz, the leisure and property entrepreneur.

Quizzed about his appointment's significance for a potential float, Drysdale said: 'It gives us that option, doesn't it?' but stressed that no plans have yet been made.

Leon's menu ranges from 'superfood salad' to Moroccan meatballs, and claims to use no unhealthy fats or added salt.

Leisure analysts have praised the business for managing to serve up healthy, artisan-type foods fast enough to cope with the lunchtime office workers' rush.