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Article: LGV in 107m [pounds sterling] deal to buy Tragus.(food and drink news)(Legal and General Ventures Ltd.)(Tragus Holdings)

Article from:
Leisure Report
Article date:
February 1, 2005
Copyright

Legal & General Ventures is buying Cafe Rouge's parent company, Tragus Holdings, from ECI, the private equity group, in a deal worth 107m [pounds sterling].

The announcement ends weeks of speculation that a deal was imminent.

The agreement includes a war chest to fund the company's expansion of its two key brands, Cafe Rouge and Bella Italia.

LGV also announced that Graham Turner, previously managing director of the Unique Pub Company, will become chief executive of Tragus, replacing Finlay Scott. Scott, formerly chief executive of Tragus Holdings, said: "Tragus has continued to achieve exceptional growth on a like-for-like basis. The ...

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