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

Tragus tables bid for Paramount

06 July 2010 by

Cafe Rouge](http://www.caterersearch.com/A-Z/CompaniesLanding/224/605/Page1.htm) and Strada owner [Tragus ](http://www.tragusholdings.com/)is understood to have made an offer for [Paramount Restaurants](http://www.paramountrestaurants.co.uk/), which runs rival chains Caffe Uno and [Chez Gerard](http://www.caterersearch.com/A-Z/CompaniesLanding/224/617/Page1.htm).

Tragus is looking to buy the firm for less than £50m, as part of a sale auction by Christie & Co, according to the Sunday Times.

Paramount owns nearly 80 outlets, also including fish restaurant Livebait, Bertorelli and Brasserie Gerard.

Royal Bank of Scotland, HSBC and Barclays each ended up with a 20% stake in the company after a £55m financial restructuring last year. The lenders instructed Christie & Co to sell 37 outlets earlier this year, although the firm was also tasked with sounding out a sale of the whole company, with the deadline for bids set for last Friday.

Tragus, which is backed by private equity firm Blackstone, declined to confirm its approach.

Paramount Restaurants to be put up for sale >>

Paramount Restaurants to restructure after private equity pull-out >>

Sales at major pub and restaurant chains holding up >>

By Neil Gerrard

E-mail your comments to Neil Gerrard here.

If you have something to say on this story or anything else join the debate at Table Talk - Caterer's new networking forum. Go to www.caterersearch.com/tabletalk

Caterersearch.com jobs

Looking for a new job? Find your next job here with Caterersearch.com jobs

[Blogs on Caterersearch.com](http://www.caterersearch.com/blogs) Catch up with more news and gossip on all Caterer's blogs
[Newsletters For the latest hospitality news, sign up for our e-mail newsletters.
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 Group 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.

close

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