CVC Capital Partners and Bridgepoint Capital, the pan-European private equity groups, have sold Parisa Cafe Bars, the cafe bar business of the off-license group they backed in a £56m (€90.6m) buy-out in 1997.

Parisa, the off-license-to-café chain, was a management buy-out from Greenalls, the former pub chain, led by Nader Haghighi. Haghighi left the business earlier this summer to pursue other interests after falling out with his backers.