April 2006 Issue

The recent buying spree seen in the food and restaurant industry is being largely driven by demand from private equity funds. US-based mid-market buyout firm Castle Harlan – which acquired its first restaurant business in 1988 – is one group that has been an active investor in the industry through periods when other investors were wary. Senior managing director David Pittaway, with Castle Harlan since the firm's founding in 1987, talks about the evolution of investment opportunities in the sector and its current allure for private equity.