Former Clapham House Group chairman David Page and business partner Nabil Mankarious have acquired the Real Greek restaurant chain from Capricorn Ventures.
The duo's company Kefi Limited has bought the six-strong London-based group for an undisclosed sum with a view to growing the business. It will be headed up by managing director Mankarious, formerly operations director of Gourmet Burger Kitchen (GBK).
"We are looking for other sites to grow the brand because as a business it's always been profitable," Page told Caterersearch.com. "We grew it from two restaurants when we first bought it to six and the existing restaurants are all very successful."
The Real Greek was founded in 1999 by chef Theodore Kyriakou, who opened its first site in Hoxton to critical acclaim. In 2004, the group was bought by Clapham House, which grew it to six outlets across London including Bankside (2004), Marylebone (2005), Covent Garden (2006), Westfield (2008) and Spitalfields (2008).
Last September, Clapham House, which also operates the GBK brand, was acquired by Nando's owner Capricorn in a deal worth £30m. At the time Capricorn said it would provide the "significant investment and time" needed to reinvigorate the two brands in the difficult trading environment for restaurants. Following the acquisition Page, who founded Clapham House with chief executive Paul Campbell in 2003, left the business.
The Real Greek will open a new site at Westfield Stratford City, the £1.45b retail development next to the Olympic Park in east London, in September. "The new site at Westfield Stratford City will be a big, 150-seat restaurant," Page added. "We already operate a restaurant at Westfield White City which does very well.
"I really like the Real Greek as a brand - the sharing concept works very well and everyone has a great time when they eat there."
Page added that he also plans to grow Italian restaurant concept Rocca, which currently has two outlets in South Kensington and Dulwich Village in south London. "We're actively looking for sites," he said.
By Kerstin Kühn
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