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.

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

Recommended

Best junior stocks and shares ISA platforms
Isas

Best junior stocks and shares ISA platforms

A junior stocks and shares ISA is a great way to save for your child tax-efficiently. But it can be confusing deciding which investment platform to ch…
25 Nov 2022
Share tips of the week – 25 November
Share tips

Share tips of the week – 25 November

MoneyWeek’s comprehensive guide to the best of this week’s share tips from the rest of the UK's financial pages.
25 Nov 2022
Investing in a recession: 5 moves investors should make now
Investment strategy

Investing in a recession: 5 moves investors should make now

As we enter a recession, here’s what investors should do with their portfolios.
23 Nov 2022
It’s time to focus on Fuller’s
Share tips

It’s time to focus on Fuller’s

The pub sector has had a torrid two years, but this group is resilient and poised to prosper. We take a closer look at Fuller’s.
21 Nov 2022

Most Popular

Fan heater vs oil heater – which is cheaper?
Personal finance

Fan heater vs oil heater – which is cheaper?

Sales of portable heaters have soared, as households look to cut their energy costs. But which is better: a fan heater or an oil heater? We put them t…
21 Nov 2022
Wood-burning stove vs central heating ‒ which is cheapest?
Personal finance

Wood-burning stove vs central heating ‒ which is cheapest?

Demand for wood-burning stoves has surged as households try to reduce their heating costs this winter. But how does a wood burner compare with central…
29 Nov 2022
Best regular savings accounts – November 2022
Savings

Best regular savings accounts – November 2022

You can earn an attractive rate on the best regular savings accounts. We tell you the best on the market to take advantage of right now
29 Nov 2022