Laurel expects merger to deliver 70% increase in food sales

20 April 2007 by
Laurel expects merger to deliver 70% increase in food sales

The Laurel Pub Company expects its food business to increase by 70% if its Slug & Lettuce and Ha!Ha! Bar & Canteen brands merge with newly acquired tapas restaurant chain La Tasca.

Laurel owner Robert Tchenguiz won the bidding war for La Tasca earlier this month, offering £104.2m (£123m including debt) in conjunction with Icelandic bank Kaupthing, beating off two bids from the Blackstone-backed Tragus, owner of Café Rouge and Bella Italia.

The deal, which will create a 200-strong restaurant division, is not expected to be completed until May, but Ian Payne, chairman at Laurel, told Caterer: "If the deal were to go through, it would increase the size of our food business by 70% and would give us three strong brands."

At the end of 2006, Laurel completely restructured its management team under Payne with the appointment of Spirit Pubs and Bars managing director Paul Symonds as chief executive in September. He was followed by fellow Spirit executive Toby Smith, who came to Laurel as head of pubs and bars, and chain restaurant veteran Steve Rogers, who heads up Ha!Ha! Bar & Canteen after running Spirit's Old Orleans brand.

Laurel Pub Company completes restructuring >>

By Christopher Walton

E-mail your comments to Christopher Walton here.

The Caterer Blog]( Catch up with more news and gossip on the Caterer Blog here
[Newswire For the latest hospitality news, sign up for our e-mail news alerts.
The Caterer Breakfast Briefing Email

Start the working day with The Caterer’s free breakfast briefing email

Sign Up and manage your preferences below

Check mark icon
Thank you

You have successfully signed up for the Caterer Breakfast Briefing Email and will hear from us soon!

Jacobs Media is honoured to be the recipient of the 2020 Queen's Award for Enterprise.

The highest official awards for UK businesses since being established by royal warrant in 1965. Read more.


Ad Blocker detected

We have noticed you are using an adblocker and – although we support freedom of choice – we would like to ask you to enable ads on our site. They are an important revenue source which supports free access of our website's content, especially during the COVID-19 crisis.

trade tracker pixel tracking