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TRG buys Blubeckers to expand

22 June 2005

The Restaurant Group (TRG) has bought Blubeckers from CI Traders for £27.05m.

TRG said the deal represented an exciting opportunity for further growth in a sector with strong potential.

Blubeckers has 17 restaurants in the Home Counties predominately located in neighbourhood, rural and semi-rural locations. Twelve operate as Blubeckers and five as Edwinns and cater for adults and families.

TRG executive chairman Alan Jackson said: "We have acquired a business with two well respected and established brands, a good portfolio of sites and an experienced management team."

Chief executive of CI Traders Martin Bralsford said its UK restaurant businesses was more valuable to purchasers TRG as it would be able to expand the chain more rapidly on a national basis

CI Traders is using the money from the deal to reduce debt. The deal comprises of £22.7m of share capital and £4.3m of debt.

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