Tesco buys family restaurant chain Giraffe
British supermarket Tesco has acquired restaurant chain Giraffe in an effort to make use of excess space as shopping moves online.
British supermarket Tesco has acquired restaurant chain Giraffe in an effort to make use of excess space as shopping moves online.
Tesco bought the company from venture capitalist Risk Capital Partners and UK buyout firm 3i for £48.6m.
Russel and Juliette Joffe, who founded Giraffe in 1998, will remain on the management team.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Giraffe has 48 restaurants in the UK and Tesco plans to open more next to its supermarkets.
The first site alongside a Tesco will open later this year.
"The acquisition forms part of Tesco's strategy to develop the space in some of its larger stores," the grocer said in a statement.
The deal follows the group's purchase of 49% stake in coffee shop chain Harris + Hoole and bakery chain Euphorium.
RD
-
House prices are falling in London but how does it compare to the rest of the UK?
Advice The capital remains the most expensive part of the UK to buy a property, but it isn’t being as badly hit by the housing market slump. Where are London house prices heading?
By Marc Shoffman Published
-
Will a Santa Rally provide festive cheer for investors this year?
News Equities often get a seasonal boost during December - will there be a Santa Rally in 2023?
By Marc Shoffman Published