Restaurant group Prezzo has acquired 11 leases, the business and assets from Paramount Restaurants’ business Caffe Uno Brasseries for £3.1m.
The transfer of the leases is subject to landlord’s consent and a phased completion has been agreed.
Prezzo has also purchased the Caffe Uno trade mark with the related rights and intellectual property for an additional sum.
It has granted Paramount Restaurants a license back of the rights to continue to use the Caffe Uno trade mark for one year after the assignment.
Three restaurants currently operate under the Caffe Uno brand, two under Il Bertorelli and six under Brasserie Gerard.
They will be refurbished and rebranded either under one of Prezzo’s existing formats or the Caffe Uno brand in early 2011.
Christie + Co advised Paramount Restaurants.
annabel.dixon@estatesgazette.com
