Service with a smile 21 February 2020 Tom Kemble of the Pass at South Lodge cooks up a pumpkin masterclass and shares why it’s important for chefs to meet their customers
In this week's issue...Service with a smile Tom Kemble of the Pass at South Lodge cooks up a pumpkin masterclass and shares why it’s important for chefs to meet their customers
Read More
Search
The Caterer

Whitbread sells TGI Friday's to joint venture

17 January 2007 by
Whitbread sells TGI Friday's to joint venture

Whitbread has sold American-themed restaurant and bar TGI Friday's to a joint venture between TGI global franchise owner Carlson and private equity group ABN AMRO Capital for £74.1m.

The deal will see the newly-formed venture, called TGI Friday's UK Limited, buy 30 of the 45 properties and take control of the UK trading name. ABN will own 60% of the new business while Carlson will own the remaining 40%.

The freeholds on the remaining 15 properties were sold and leased back from property developer British Land for £48.37m.

Whitbread chief executive Alan Parker said: "This sale marks the completion of the review of our restaurants business announced last year. We are now a leaner more focussed group."

Paul Southwell, managing partner of ABN's UK buyout team said: "TGI Friday's is a well-established brand in the US and one which we feel can be further developed in the UK."

Charlotte Maxwell, bartender, TGI Friday's, Covent Garden, London >>

London takes top spots in TGI UK Bartender of the Year competition >>

Whitbread reports a rise in sales >>

Move for Whitbread from Starwood Capital could trigger bidding war >>

By Tom Bill

E-mail your comments to Tom Bill here.

Get your copy of Caterer and Hotelkeeper every week -

The Caterer Breakfast Briefing Email

Start the working day with The Caterer’s free breakfast briefing email

Sign Up and manage your preferences below

Thank you

You have successfully signed up for the Caterer Breakfast Briefing Email and will hear from us soon!