Boparan poised to acquire Carluccio’s
Sky News reports that Boparan Restaurants, which is owned by Ranjit Singh Boparan, is to conclude a takeover of the Carluccio's brand, head office and approximately 30 restaurants in the coming days.
The 73-strong chain collapsed into administration at the end of March despite a reported injection of cash from Carluccios’ owner, the Dubai-based Jagtiani Foundation.
Administrators FRP Advisory are believed to have initially been in talks with a number of parties, including Tesco, to try and secure a sale of the Italian casual dining chain.
However, it was subsequently reported at the end of last month that Boparan was in exclusive talks to acquire the brand.
If completed as expected, the deal is expected to involve retaining roughly 900 employees, meaning that more than 1,000 are likely to be left facing redundancy.
Carluccio’s was founded over 20 years ago by celebrity chef Antonio Carluccio, who died aged 80 in 2017.
The chain has struggled in recent years, and had to close 30 restaurants using a Company Voluntary Arrangement (CVA) in 2018 following a fall in profits.
In 2019 it received a £10m cash injection from shareholder Landmark, which is run by the Jagtiani family, to refurbish its estate, and in December the chain said it was seeking franchise partners for expansion.
It has previously been reported that Carluccio’s Ireland operation and franchise business in the Middle East are both unaffected by the insolvency.
BigHospitality contacted FRP regarding the sale on Tuesday morning (19 May), but it declined to comment.
