LE Bistro, one of the best- known brands in Scottish
catering and hospitality, has merged with Azure Support Services to form Scotland's largest events catering business.
Liz McAreavey, the high-profile and award winning founder and chief executive of Le Bistro, will have no equity stake in Azure, where she takes the new job of director of business development.
The new combined firm, which may retain the Le Bistro brand name for marketing purposes, will have an anticipated turnover of #15m by the end of the year. Up to 50 jobs will be created by the merger and Azure will employ 200 full-time staff - rising to 1000 people during catered events at the Royal Highland Show, Rangers football club, or the former royal yacht Britannia.
Caroline Black, managing director, and Lawrence Morison, director, own a majority of Azure, with Charlotte Ventures - the Edinburgh-based private investment company in which David Murray, the chairman of Rangers football club has a stake, holding a minority of the firm. The duo formerly worked at the Gardner Merchant subsidiary, Kelvin, before setting up Azure last year.
Azure is planning to expand into new markets in England. Black said: ''While our business roots are in Scotland, the intention is to offer our expertise and reputation throughout the UK.''
Sources close to Azure yesterday told The Herald the fact that McAreavey, who was the 1998 Scottish businesswoman of the year and is a director of Edinburgh Chamber of Commerce, has no equity interest
in the new company suggested the merger was not one of financials equals.
Established in Edinburgh 14 years ago, McAreavey built up the business to a #7m turnover, employing 120 staff at its
Portobello head office.
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