Owner of Midlands based 2 Sisters Food Group, Ranjit Boparan, is set to add another notch to his menu with the acquisition of the Giraffe restaurant chain from Tesco for an undisclosed sum.
Set to take place via Boparan Restaurant Holdings, a subsidiary of the main Boparan Holdings Group, the sale will add to the group’s already impressive portfolio which includes Harry Ramsden’s.
There are a total of 54 restaurants, 12 of which are franchise sites, while 3 are within Tesco stores.
Commenting on the deal, Tesco’s chief executive, Dave Lewis, said: “As we stabilise the business in the UK, we continue to focus on where we can best serve the needs of our customers, while ensuring our business remains sustainable for the long-term.”
The sale announcement comes after the Giraffe group traded at a loss last year.