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Tesco buys Giraffe restaurant chain

14 | 03 | 13

Tesco has purchased a 100 per cent stake in the Giraffe restaurant chain.

The supermarket has paid close to £50 million to take control of the company and hopes to incorporate the restaurant into some of its larger stores.

Giraffe first opened in Hampstead, North London in 1998 and now consists of 48 outlets throughout the country, including franchised sites at several major UK airports and one in Dubai.

Tesco described the company as a family-friendly restaurant, which offers a wide range of fresh, seasonal, high quality food in a comfortable environment with friendly staff. Its menu contains a variety of global dishes and options for breakfast, lunch and dinner.

The supermarket chain said the acquisition is part of its strategy to provide an "even more compelling" retail environment where customers can meet, eat and drink, as well as shop. Tesco stores throughout the country will now need to be fitted with kitchen equipment and the first outlet to contain a Giraffe restaurant will be near London.

Kevin Grace, group commercial director at Tesco, said: “We invest in businesses that add value for our customers online or offline."

He added: "We have the opportunity to develop some of the space in our larger stores to create retail destinations that offer customers even more choice. Giraffe is hugely popular with a wide range of ages and particularly families - we think our customers will love it.” 

The original founders of Giraffe, husband and wife team Russel and Juliette Joffe, will retain their positions along with the rest of the company's management team.

Mr Joffe commented: "We’re very much looking forward to working with Tesco. We’re passionate about great service, wonderful hospitality and serving good, healthy food at great value."

He said the acquisition will bring the company to a wider audience, as well as providing great opportunities for growth and the brand’s development.

Giraffe was voted family-friendly restaurant group of the year by Restaurant Magazine in 2009.ADNFCR-16001031-ID-801556737-ADNFCR


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