Chicken shop sale

Lenard’s is looking to sell up its chicken shop, with the local Australian franchise reportedly assessing its sale options with Ernst & Young.

Lenard’s, a food retailer with about 200 franchises nationally, sold off a large stake of its business to local private equity firm, Blue Sky, last decade.

It’s founder, Lenard Poulter, and management hold the remaining 58 per cent controlling stake, with the business now assessing its further options, according to Street Talk Online yesterday.

Lenard’s celebrated 25 years in business last year with a new brand direction and tagline, Let’s Make Something Special.

The chain has been focusing increasingly on readymade meals, such as rissotto, marinades, and BBQ bags, as busy Australians look for easier dinner options.

According to The Financial Review, Lenard’s could be valued at as much as $50 million, with it thought to have pre-tax earnings of around $5.5 million.

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