Toridoll to acquire Fulham Shore for £93m
Great Sea Kitchens Ltd, a newly-incorporated subsidiary of Toridoll Holdings, has put forward an all cash offer of £93.4m to acquire Fulham Shore, current owner and operator of the Franco Manca and The Real Greek restaurant brands.
Fulham Shore's estate has traded well over the last few years despite various industry challenges, delivering a robust performance driven by an experienced management team. With 97 venues across the UK, Great Sea Kitchens recognises the group's potential for national expansion, also looking to grow its presence internationally and across retail channels.
Alongside the wider Toridoll group and Capdesia Group Ltd, Great Sea Kitchens believes it can deliver on the Fulham Shore growth opportunity, supporting the company's existing management team as it implements the expansion strategy.
Commenting on the acquisition, Takaya Awata, president and CEO of Toridoll, comments: "Fulham Shore has two exciting and fast-growing brands that are aligned with Toridoll's slogan of 'Filling Our Planet with Dining Experiences that will Move You'.
"We are confident that both have the potential for significant future growth, domestically and internationally. Together with the strength of these brands and our partnership with restaurant sector specialist fund Capdesia, we have the opportunity to leverage our combined expertise and significant resources to accelerate their growth even further. We look forward to working closely with Fulham Shore's management and employees as we embark on the next stage of the company's growth."