Laurel plans high street brand blitz

Laurel Pub Company has outlined ambitious plans to bring tapas chain La Tasca and branded pub group Slug and Lettuce to high streets across the UK by doubling the size of each estate.

The privately backed casual dining and pub operator is set to complete the £123m acquisition of La Tasca through parent company R20 on 14 June when it will be re-registered as a private company under the ownership of R20 backer Robert Tchenguiz.

Once La Tasca is part of Laurel, chief executive Paul Symonds threatens to "grow its socks off" and double the size of the chain, which already stands at 58 restaurants in the UK. "La Tasca has historic new openings of about 10 a year. That sort of pace we would look to accelerate as there's so much potential in there," he told Caterer.

"We're absolutely pushing on. This is not the end of the journey, it's the beginning. While they feel they've been growing fairly rapidly we had to say: ‘We bought you because we love you but this is the sort of group where we can double the size of the business'. There's so much more we can go for."

Meanwhile, Slug and Lettuce, the bar chain which has stood as an independent division in Laurel since Symonds took charge and restructured the group in September last year, will continue to be rolled out as a brand in city centres. "The Slug estate stands at just under 50," he said. "We're doing four conversions a month and have enough in the pipeline to keep on going to 120," says Symonds.

Laurel's casual-dining chain Ha! Ha! Bar and Canteen will not escape the growth fever at Laurel, with Symonds planning to increase the current estate of 27 to 50 "over the next two to three years" once the right venues have been found.

Laurel expects merger to deliver 70% increase in food sales >>
Tchenguiz trumps Tragus bid for La Tasca >>

Laurel Pub Company completes restructuring >>
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By Christopher Walton

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