Legal & General Ventures has bought Tragus, owner of the Cafe Rouge and Bella Italia restaurant chains.
It did not reveal the price paid to owner ECI Partners for the 157 outlets, although The Times puts this at about £92m.
The buyer said a total funding package, including a cash pile for an expansion programme, came to £107m.
The new owner plans to open at least 12 new sites a year, mostly Cafe Rouge outlets. Bella Italia will also be expanded. The company also includes 12 brasseries under such brands as Mamma Amalfi and Abbaye.
References: The Guardian 19/01/05 page 20, The Times 19/01/05 page 38 (Need to know), page 43
