Giraffe is owned by Boparan Limited. Boparan Holdings, which owns BRG and 2 Sisters Food Group, the country’s largest supermarket chicken supplier, acquired Giraffe from Tesco …
The move will see the supermarket open Giraffe branches near to … Find your nearest Giraffe restaurant.
Spokesmen for Tesco and Boparan Ventures declined to comment. Mr Boparan is best-known as the controlling shareholder of 2 Sisters Food Group, which is Britain's biggest chicken supplier and the owner of Goodfella's Pizzas.The announcement of Boparan Ventures' takeover of Giraffe is understood to be planned alongside the sale of Tesco's interests in Turkey, revealed by Sky News on Tuesday.Giraffe was bought by Tesco from a private equity firm headed by Luke Johnson, arguably Britain's most successful restaurant investor.The grocer's disposal of Kipa will mark a further stage in its international retrenchment following the sale or closure of its operations in China, South Korea and the US.Tesco is likely to sell the Turkish business for "a couple of hundred million pounds", one analyst suggested on Tuesday night, while Giraffe would be "all but given away".Tesco's other international operations, in markets such as Hungary, Poland and Thailand, are not on the auction block.Mr Lewis also wants to sell peripheral businesses including Harris + Hoole, the chain of coffee shops, and Dobbies, the garden centres business.The deal is expected to be announced on Thursday.Migros, another Turkish-owned retailer, is said to be the buyer of Kipa, which Tesco acquired in 2003.Spokesmen for Tesco and Boparan Ventures declined to comment.While they will represent another important step in Mr Lewis's efforts to tidy up Tesco's sprawling portfolio of businesses, they will not be material from a financial perspective, insiders said.Sky News understands that Boparan Ventures, the private investment vehicle of Ranjit Boparan, a wealthy entrepreneur, is the mystery buyer who has agreed to acquire Giraffe from Tesco.Boparan also owns the upmarket Indian restaurant in London's Westminster, The Cinnamon Club.Many of the assets being sold by Dave Lewis, Tesco's chief executive, were acquired by his two most recent predecessors: Sir Terry Leahy and Philip Clarke, who wanted to diversify the retailer's appeal and geographical reach in an attempt to emulate global peers such as Wal-Mart.Boparan Ventures, which also owns Fishworks, a London-based chain, is understood to be paying Tesco a modest sum for Giraffe, which was loss-making last year.Wednesday 8 June 2016 17:44, UKThe tycoon who owns the Harry Ramsden's restaurants will add to his portfolio of casual dining chains this week by snapping up Giraffe from the UK's biggest retailer. Supermarket group Tesco has bought the restaurant chain Giraffe for £48.6m. Mr Lewis also wants to sell peripheral businesses including Harris + Hoole, the chain of coffee shops, and Dobbies, the garden centres business. Giraffe was bought by Tesco from a private equity firm headed by Luke Johnson, arguably Britain's most successful restaurant investor. Creditors approve rescue deal that will close 27 UK sites and put 340 jobs at riskThe owner of Giraffe and Ed’s Easy Diner is to close a third of its restaurants, putting 340 jobs at risk, after creditors approved a rescue deal.After approval of a company voluntary arrangement (CVA), it is understood the business’s owner, Boparan Restaurant Group (BRG), will inject £10m into Giraffe Concepts, whose main chain has endured a rocky history including a period of ownership by Tesco.Six Ed’s sites, including those in Bromley and Mayfair in London, and 21 Giraffe restaurants, including ones in Aberdeen, Basingstoke, Norwich, Reading and Bluewater shopping centre in Kent, are to close in the next few months.Will Wright, a restructuring partner at KPMG and joint supervisor of the CVA, said: “This is a critical step forward for the business, allowing Giraffe Concepts to complete its financial restructuring plan and embark on a comprehensive operational transformation programme.”The companies were combined into Giraffe Concepts, which generated revenues of £67.1m in 2017 but made a loss of £9.9m, according to its latest accounts.More than three-quarters of the company’s creditors approved the rescue deal, which also includes rent cuts on 17 outlets, at a meeting on Thursday.Giraffe Concepts, which also includes the Slim Chickens and Wondertree brands, has 80 restaurants, 17 of which are run by franchisees and are not affected by the restructure. Where are your restaurants? We have 22 restaurants in the UK and 4 outside of the UK.