Fast food chain Leon has been bought back by its co-founder John Vincent from Asda.
This follows its acquisition by the billionaire Issa brothers four years ago.
Asda confirmed the sale to Vincent, who co-founded Leon in 2004. The deal includes 46 Leon restaurants, 20 franchises in the UK, three franchised sites in the Netherlands and one in Italy. Approximately 1,120 employees across the chain will move to the new ownership.
The Times reported on Friday that Vincent could pay between £30 million and £50 million for the chain.
This would mark at least a 50% discount on the reported £100m purchase price in 2021.
Asda did not reveal the sale price and declined to comment on reports that the brand was being bought back at a deep discount.
The grocer said the sale reflects efforts to focus on its core retail operations, which incorporate its supermarkets, cafes, pharmacies and fuel businesses.
Vincent created Leon with Henry Dimbleby and chef Allegra McEvedy to focus on healthy fast food.
It was sold to Mohsin Issa and Zuber Issa's company EG Group in 2021 before becoming part of their Asda business in 2023.
Dimbleby recently warned that the León brand could be “destroyed” under Asda ownership.
In an interview with The Telegraph, he said the company was abandoning its original goal of selling “convenient and healthy” foods in favor of “cheap and unhealthy” alternatives.
