TDR Capital, owner of the Ask and Zizzi restaurant chains, has sold 12 of its sites to private UK investor Tony Khalastchi in a sale-and-leaseback deal worth just under £20m.
 |
|
| Zizzi: more dough to expand |
|
The 12 properties, which include restaurants in Finchley in north London, Nottingham and Brighton, will continue to trade as Ask and Zizzi, said a spokeswoman for agent Davis Coffer Lyons.
The money is expected to be ploughed back into expanding the two chains, which currently have some 172 restaurants between them.
TDR has agreed a similar deal worth £8.5m on five Pizza Express sites outside London.
by Nic Paton
Buy this week's Caterer magazine for more industry news and analysis