Eighteen months after taking control of the company of the famous pastry chef Pierre Hermé, Walter Butler continues his culinary journey by settling down at the table of L’Ambroisie. The Franco-Brazilian investor takes over two-thirds of the three-star Parisian restaurant in Place des Vosges, alongside its owner and founding chef Bernard Pacaud. The latter thus prepares the transmission of the establishment which he launched in the early 80s and which has made its reputation throughout the world. He remains president and partner of L’Ambroisie and will retain control over the kitchen.
As part of this operation, and as in previous ones, Walter Butler is investing solely with its own funds (via the permanent capital of its company Butler Industries). If the amount committed is not communicated, the strategy displayed by the group is to invest long-term tickets of up to 75 million euros in “companies with real industrial projects”. A wide range, far from being reached in the case of Ambrosia, whose equity amounted to one million euros at the end of 2021 (the 2022 accounts have not yet been communicated to the general public). “For me, it is an investment of heart and reason in a jewel of French heritage”declares the businessman, who intends to work alongside the family so that L’Ambroisie “remains the benchmark for French cuisine”.
Good financial health
The reason is there. If the stars of a restaurant make the turnover shine, but most often darken the profitability (due to high standards in the dining room and in the kitchen), this is indeed not the case of the Ambrosia. The company recorded a net profit of 420,000 euros in 2021 and 193,000 euros in 2020, during the health crisis which had hit the catering sector hard. Faced with financial debts amounting to 700,000 euros, the establishment also had cash of 1.2 million euros.
This new investment comes to fill the portfolio of Butler Industries, now composed of nine other companies from heterogeneous sectors. The businessman invested in SeaOwl (maritime services) at the start of the year, in Pierre Hermé at the end of 2021 and in Paradis Latin in 2018. According to information available on its website, Butler Industries also retains older investments. in the areas of IT infrastructure outsourcing (Interadapt since 2011 and Econocom since 1998) and security (Almas Industries since 2013 and Fichet Bauche Télésurveillance since 2014).
Butler Industries is also present in real estate. The group was also for a time specialized in restructuring, via the Butler Capital Partners fund (investment in SNCM, Virgin Megastore or even PSG).
