Las Iguanas, the successful and expanding Latin American restaurant chain, is reported by The Daily Telegraph to be for sale, and will possibly be the next major restaurant deal in the UK market. Pizza Express and TGI Fridays have both sold in the last year, whilst Yo! Sushi is for sale.
Owned by Bowmark Capital, and acquired for around £30 million in 2007, it is understood that £100 million is the asking price for the 38 restaurants in the UK, serving Latin American dishes and flavours.
Given the current appetite for hospitality businesses, the range of possible buyers is thought to be large, but includes Bridgepoint Capital, owner of Ask and Zizzi Italian restaurants.
La Tasca
Meanwhile, The Sunday Telegraph has also reported that Prezzo and Casual Dining Group – formerly Tragus, and owner of Cafe Rouge and Bella Italia – are pursuing La Tasca, the Spanish tapas chain.