Restaurant franchise company Landmark Group has officially tabled its offer for Italian restaurant chain Carluccio's, amid rumours that a serial entrepreneur is preparing a rival bid.
C1 Acquisitions, a company owned by Landmark Group, is offering a £90m cash offer for Carluccio’s and has set a deadline of 1 October for the deal to be accepted.
However, BigHospitality understands that Richard Caring, the serial entrepreneur, could step in with a separate bid for the company.
If shareholders approve the deal, the Carluccio’s board will rollover their holdings and options into C1 Acquisitions.
Landmark, which already owns a 5% stake in the company, was advised by Rothschild.
Martyn Leek is news editor of BigHospitality's sister publication, M&C report.