John Vincent Reacquires Leon, Plans Streamlined Growth and Menu Overhaul
John Vincent has bought back the Leon food chain from Asda in October 2025, funding the acquisition personally and debt-free, with a rumored price between £30m and £50m.
Leon, originally founded in 2004 by John Vincent, Henry Dimbleby, and Allegra McEvedy to provide seasonal, high-quality fast food, has experienced financial challenges since 2016 due to rapid expansion and rising costs. Sales fell from £76.3m in 2019 to £38m in 2020, then rose to £52.2m in 2022 with 85 stores and about £62.5m last year across 79 stores, though it still faced an £8m pre-tax loss.
Under Vincent's turnaround plan, the group will be reduced to roughly 50 stores by January, with 29 owned stores in London and the rest operated by franchisees. The objective is to reposition Leon as a niche, differentiated brand focused on quality rather than broad high street presence, aspiring to be the best food company instead of the biggest.
Looking ahead, expansion envisions up to 100 UK outlets—mostly in London—over the next four years after stabilisation, along with possible overseas franchises or joint ventures.
Menu changes include phasing out sandwiches in favor of higher-quality items like thicker halloumi and better smoked salmon. The brand also plans to reintroduce fan favourites such as the fish finger wrap in a spring relaunch.
Staff training in Wing Tsun is part of a broader strategy to improve service quality, aiming to speed up coffee-making times and reduce stress in operations.
The sale and reacquisition followed Asda's ownership restructuring under the Issa brothers and TDR Capital, with Leon now set for a controlled relaunch under Vincent's leadership.
Although Allegra McEvedy is no longer formally involved, she has contributed to strategy discussions. Henry Dimbleby has shifted his focus to government advisory roles relating to food policy.
