Windfall for brothers in patisserie-chain deal

Three brothers are to pocket a £6m (€8.9m) windfall after selling a controlling stake in their upmarket French café chain to Channel 4 chairman Luke Johnson.

Patisserie Valérie, a Soho institution, which the brothers grew into a chain of eight cafés and three franchises in central London, is valued at around £8m (€11.9m) following the deal with Mr Johnson’s investment vehicle, Risk Capital Partners.