Casual Dining Group (CDG) has reached an agreement to acquire the La Tasca Spanish restaurant chain from Kaupthing. Operator of Bella Italia, Café Rouge and Las Iguanas, the acquisition positions CDG as the leading growth platform in the UK restaurant market.
La Tasca, is a 40 strong chain of Spanish mid-market restaurants and operates across the UK. The brand also operates 5 restaurants in the US. The menu offers classic tapas and rustic Spanish dishes in an authentic environment and is popular with shoppers and groups looking for a relaxed and fun night out with friends.
This latest acquisition follows the group’s recent purchase of Las Iguanas. It increases CDG’s UK-wide footprint to 280 restaurants, cementing the group’s position as the UK’s leading privately-owned casual dining business.
CDG growth plan
The acquisition 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 6 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.”
Strong interest
Simon Wilkinson, head of La Tasca commented:
“We are pleased with the strong interest in the business on the back of a very successful trading period which has seen UK EBITDA grow by over 90% during the last financial year. We are grateful to our owners who have supported the management team throughout the turnaround of the business. La Tasca has a strong core of high performing sites and I’m pleased the business has found a good home with CDG. I look forward to helping guide the business through its next stage of development.”
For more information about Casual Dining Group click here
For more information about La Tasca click here