Café Rouge owner Tragus has acquired Italian high street restaurant chain Strada for £140m.
The company, which is backed by private equity firm Blackstone, expects to grow the Strada business to around 150 outlets across the UK after completing the deal this week.
Tragus, which acquired casual dining chain Ma Potter’s in February, said Strada “offers a premium position in the Italian restaurant sector and complements our existing Bella Italia brand”.
Graham Turner, chief executive of Tragus, said: “We are delighted to have acquired such a high quality and well recognised brand with real growth potential.
“We believe there is significant benefit to combining the Strada business within the Tragus group and continuing the Strada story of consistent high quality growth.”
Debt facilities were provided by Barclays Capital and Tragus was advised on the transaction by Rothschild.
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By Daniel Thomas
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