Casual Dining Group in £25m La Tasca acquisition
Spanish casual dining chain La Tasca has been bought by the Casual Dining Group for more than £25m.
The announcement comes just weeks after the group, formerly known as Tragus, bought South American-themed restaurant chain Las Iguanas for an estimated £85m.
The Casual Dining Group's portfolio also includes Bella Italia and Café Rouge and once the latest acquisition is complete it will own 280 restaurants across the UK, making it one of the largest privately-owned restaurant groups in the country, reported The Times.
La Tasca doubled its earnings to £4m from its 41 outlets last year, no doubt helped by an overhaul of its menu, with Simon Wilkinson at the helm as chief executive. The chain also has a restaurant expansion programme and is considering going into the Middle East.
Steve Richards, chief executive of the Casual Dining Group, said: "We are pleased to have been able to conclude the purchase of La Tasca; the business operates in some excellent locations and this acquisition strengthens our high street portfolio of restaurants."
He said that the group was planning to carry out a refurbishment of 52 outlets on its existing estate within the next six months. It also plans to open a further 30 new restaurants in the next 12 months.
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