Tesco buys Giraffe
Supermarket giant Tesco has bought the restaurant chain Giraffe, it has been announced today.
Tesco has bought Giraffe, which currently has a restaurant in Exeter City Centre, for up to £50 million in a move that will see it open the eateries across its stores.
As well as adding a family dining business to Tesco’s portfolio, the acquisition will pave the way for Tesco to add Giraffe restaurants to its larger stores and attract more shoppers.
Kevin Grace, group commercial director at Tesco, said: "We invest in businesses that add value for our customers online or offline; as we’ve done with Harris + Hoole, Euphorium, BlinkBox, and now Giraffe.
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"We have the opportunity to develop some of the space in our larger stores to create retail destinations that offer customers even more choice."
The restaurant chain was founded in 1998, when its co-founders opened their first outlet in Hampstead.
Giraffe is set to open its 48th restaurant in Leeds Trinity shopping centre this month.
It is understood that the Giraffe co-founders and management team will be retained by Tesco following the deal.