Tragus Group has completed its transformational reorganisation with CEO, Steve Richards, saying:
“The restructuring and refinancing phase has been successfully completed and we have transformed Tragus into a focused and financially sound group with a compelling buy and build strategy. Bella Italia and Café Rouge will now benefit from substantial investment and innovation as we develop and scale these two well-loved brands”.
Key highlights
- Finalised the restructuring to create a well-capitalised, market-leading casual dining group with 200 sites focused on two core growth brands – Bella Italia and Café Rouge
- Successful completion of three Company Voluntary Arrangements (CVA) over the summer to establish a proper footprint for growth
- Successful sale of Strada restaurants for £37m after highly competitive auction
- Group debt significantly reduced from £258m to £91m
- Capital injection offering financial strength and stability instated by robust sponsorship, led by funds managed by Apollo Global Management, LLC alongside a market leading consortium comprising York Capital Management, Deutsche Bank, and Oak Hill Capital Partners
- Substantial investment and innovation plans to improve the product and core brands
- Capex funding of £110m in place to invest in the existing estate and acquire a significant number of new sites
- Terms agreed to open 12 additional sites this year; agreement reached on 18 further sites
- Martin Robinson, currently chairman of Center Parcs and Non-Executive Director of Disneyland Resort Paris, taking role of non-executive Chairman
About Tragus
Tragus is one of the largest casual dining restaurant chain operators in the UK, with 200 sites across the country. Tragus operates primarily under the Café Rouge and Bella Italia formats in the UK.
For more information about Tragus click here
Café Rouge
Café Rouge is a chain of all day restaurants with the look and feel of a classic Parisian bistro and a menu which includes a number of bistro classics such as steak frites, and tarte tatin. Café Rouge is predominantly a high street brand but also operates in shopping centres, airports & leisure parks.
For more information about Café Rouge click here
Bella Italia
Bella Italia is an all-day Italian trattoria with an informal and fun ambience. Its restaurants are in prime locations predominantly on the high street but it also operates from leisure park sites. In addition to classic pizzas and pasta its broad menu also includes a range of grill main courses, sandwiches and salads.
For more information about Bella Italia click here
Concessions
The portfolio also includes 20 concessions at Heathrow, Gatwick and in Center Parcs. Tragus also operates Brasseries under the brands Huxleys, Belgo, Amalfi, Potters and Ortega.