The corporate finance team at accountancy and business advisory firm BDO LLP in Manchester acted as lead adviser on the sale of Spanish restaurant chain La Tasca to restaurant operator Casual Dining Group (CDG).
CDG now owns four of the UK’s best known chains, with La Tasca, Las Iguanas, Café Rouge and Bella Italia cementing its position as the leading privately owned casual dining businesses.
Kieran Lawton, M&A director in Manchester, led the team at BDO that advised La Tasca. He said: “This deal highlights the fact there remains significant appetite in the market for branded restaurant concepts.
“With the likes of Yo! Sushi, Gaucho, Bill’s, Ed’s Easy Diner, Loungers and others all rumoured to be either in or contemplating a sale process, I expect M&A activity in the sector to continue to be strong in the near future.”
The deal comes as Casual Dining Group sets about delivering its organic growth plan which will see 52 major refurbishments completed on its existing estate within the next six months and 30 new restaurants open within the next 12 months.
Beyond this the company has confirmed a very strong pipeline of new restaurant openings driven by the strong demand it is experiencing from leading landlords, who are keen to secure CDG’s brands on the UK’s leisure parks, shopping and travel hubs and prime high street locations.
Commenting on CDG’s latest acquisition, CEO Steve Richards said: “We are pleased to have been able to conclude the purchase of La Tasca; the business operates in some excellent locations and this acquisition strengthens our high street portfolio of restaurants.”
