Raymond Blanc’s pub-brasserie group is to be spun out into a national chain under new owners who plan to open as many as 50 new branches in the next few years. The French-born chef is understood to have sold his minority stake, but will remain involved in the business.

Alchemy Partners, a London-based private equity firm that specialises in investing in underperforming companies, is believed to have paid about £40million to acquire the Brasserie Bar Company, which was previously backed by Soho Capital.

The Brasserie Bar Company runs 14 Brasserie Blanc venues and 18 pubs under the White Brasserie brand, having lost five premises during the pandemic. Alchemy plans to accelerate growth to 70 sites, with a total investment worth up to £100million over five years.

Blanc launched his grand flagship, Le Manor aux Quat’Saisons, near Oxford in 1984, and it has remained one of Britain leading dining addresses ever since. He opened his first brasserie as Le Petit Blanc in Oxford 11 years later.