Casual Dining Group acquires Las Iguanas

By James Wallin

- Last updated on GMT

Related tags: Las iguanas, Restaurant

Las Iguanas is now part of Casual Dining Group
Las Iguanas is now part of Casual Dining Group
Casual Dining Group (CDG) has acquired the 41­-strong Las Iguanas restaurant chain from private equity firm Bowmark Capital in a deal thought to be worth between £80m and £90m.

According to BigHospitality's sister publication M&C Allegra Foodservice​, the deal creates an estate of 250 outlets and allows CDG to accelerate its growth trajectory with 30 new sites planned over the next 10 months – seven of them to be new las Iguanas restaurants.

M&C understands the total pipeline comprises 100 sites to open over the next two years.

Mos Shamel, the chief executive of Las Iguanas, will join the CDG board and will continue to lead and develop the brand.

Steve Richards, chief executive of CDG, said: “Las Iguanas is a proven, high­ quality restaurant business that has been carefully developed over 25 years. It is clearly differentiated and is positioned for significant further growth. It fits perfectly with our strategy to create a scalable restaurant group comprising compelling brands, with broad appeal, which deliver industry­leading consumer and financial metrics.”

Shamel, who joined Las Iguanas 12 years ago when it had six sites, said: “This is a great result for Las Iguanas, which is a hugely successful business, and I’m looking forward to the next stage of its development and growth as part of CDG.”

Martin Robinson, chairman of CDG, said: “This is another significant step in delivering on our vision of creating the UK’s leading casual dining group. We are delighted to welcome Mos, who with founder Eren Ali, has developed an outstanding brand that is much loved by its customers.”

Las Iguanas, which specialises in South American dishes and premium cocktails, has sites from Aberdeen to Plymouth, and trades predominantly on the high street but also on leisure parks and in retail locations. CDG was advised by AlixPartners and Bowmark by BDO.

Related topics: Business, Restaurants, Venues

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