Tesco acquires restaurant chain Giraffe group for £48.6m
British retailer Tesco has acquired restaurant chain Giraffe group for £48.6m to further expand its…British retailer Tesco has acquired restaurant chain Giraffe group for £48.6m to further expand its offerings.
"The acquisition forms part of Tesco's strategy to develop the space in some of its larger stores and create even more compelling retail destinations where customers can meet, eat and drink, as well as shop," said the retailer in a statement.
As part of the acquisition, Tesco will gain 48 Giraffe restaurants as well as its franchises in airports.
First of the Giraffe restaurant to open next to a Tesco store will be near London with menu covering a range of global dishes and appetizing options for breakfast, lunch and dinner.
Tesco group commercial director Kevin Grace remarked that the retailer was investing in businesses that add value for its customers.
"As we've done with Harris + Hoole, Euphorium, blinkbox, and now Giraffe; we have the opportunity to develop some of the space in our larger stores to create retail destinations that offer customers even more choice.
"Giraffe is hugely popular with a wide range of ages and particularly families - we think our customers will love it," explained Grace.
According to Giraffe founder and managing director Russel Joffe, the move will allow the restaurant chain to reach out to a wider audience and expand its growth horizons.
