John Vincent Reacquires Leon Food Chain with Turnaround Plan Including Store Reduction and Menu Revamp
John Vincent, co-founder of the Leon food chain, bought back the company from Asda in October 2025 for approximately £30m-£50m in a debt-free deal funded entirely by himself. Leon was originally founded in 2004 by Vincent along with Henry Dimbleby and Allegra McEvedy.
The new "turnaround" plan focuses on shrinking the group and renegotiating leases. Two outlets may close by the end of January 2026, reducing the overall number from 68 at the time of buyout to around 50. The chain is concentrating on London-owned stores, which number 29, while franchisees continue to operate locations such as motorway service stations. Plans include expanding to as many as 100 UK outlets over four years, mainly in London, with overseas franchises and joint ventures also under consideration.
A menu revamp is underway, including phasing out sandwiches, improving quality with thicker halloumi and better smoked salmon, and reintroducing favourites like the fish finger wrap. A new menu is expected to launch in spring 2026.
The staff training program has been expanded to include Wing Tsun, a martial art, aiming to improve coffee-making times and lower heart rates. The company’s focus remains on maintaining cleanliness, rapid service, and a distinctive brand.
The hospitality market remains challenging due to higher costs for ingredients, business rates, National Insurance, and labour, alongside cautious consumer spending. Leon's path to sustainability relies on being "massively differentiated" rather than striving to be the largest on high streets.
For context, Leon had shown pre-Covid profits with new outlet openings, but Covid, Brexit, rising costs, and changes in ownership (including Asda and EG Group) contributed to declines. Revenue figures include £76.3m in 2019, £38m in 2020, and £52.2m in 2022, with a peak of 85 stores.
