Monday, August 21, 2017

Buyer for Tesco’s Giraffe restaurant chain is revealed

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Harry Ramsden’s Owner Boparan Ventures has been confirmed as the mystery buyer who will acquire Giraffe restaurants from Tesco, according to Sky News.

The deal made with retail entrepreneur Ranjit Boparan is expected to be confirmed today.

Boparan Ventures, which owns London-based chain Fishworks and Indian restaurant The Cinamon Club, is understood to be paying Tesco a modest sum for the loss-making restaurant chain.

In the trimming of the business,Tesco Chief Exec also plans to offload Turkish chain Kipa to  Migros, another Turkish owned retailer. The sale will be for a “couple of hundred million pounds”.

While modest payments are being made for Tesco’s additional arms, Lewis will continue to overhaul and recover Tesco’s core grocery business. 

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