M&A Deal Summary

Tesco Acquires Giraffe Concepts

On March 13, 2013, Tesco acquired restaurant Giraffe Concepts from 3i Private Equity and Risk Capital Partners for 49M GBP

Acquisition Highlights
  • This is Tesco’s 1st transaction in the Restaurants sector.
  • This is Tesco’s 3rd largest (disclosed) transaction.
  • This is Tesco’s 9th transaction in the United Kingdom.
Investment Fate
  • Giraffe Concepts was divested to a strategic buyer in 2016.

M&A Deal Summary
Date 2013-03-13
Target Giraffe Concepts
Sector Restaurants
Buyer(s) Tesco
Sellers(s) 3i Private Equity
Risk Capital Partners
Deal Type Add-on Acquisition
Deal Value 49M GBP

Target

Giraffe Concepts

London, United Kingdom
website
Giraffe is a family-friendly restaurant that offers a wide range of fresh, seasonal, quality food, comfortable interiors and friendly staff. Its menu covers a range of global dishes and appetising options for breakfast, lunch and dinner.

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Buyer(S) 1

Buyer

Tesco

Welwyn Garden City, United Kingdom

website

Category Company
Founded 1919
Sector Retail
Employees345,000
Revenue 61.4B GBP (2022)
DESCRIPTION

Tesco is a multinational grocery and general merchandise retailer. Tesco was founded in 1919 and is based in Welwyn Garden City, the United Kingdom.

DEAL STATS #
Overall 11 of 12
Sector (Restaurants) 1 of 1
Type (Add-on Acquisition) 9 of 9
Country (United Kingdom) 9 of 10
Year (2013) 1 of 1
Size (of disclosed) 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-09-04 Mobcast Services

London, United Kingdom

Mobcast Services Ltd. is a software provider of cloud based ebooks.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2013-09-10 Fresh & Easy

El Segundo, California, United States

Fresh & Easy is a manufacturer and distributor of high-quality, fresh products to every store, every day. This capability gives Fresh & Easy the ability to provide the highest level of freshness and convenience available. Fresh & Easy was founded in 2007 and is based in El Segundo, California.

Sell -

Seller(S) 2

SELLER

3i Private Equity

London, United Kingdom

Investor Investor Investor Investor Investor

website

Category Private Equity Firm
Founded 1945
PE ASSETS 16.7B GBP
Size Mega
Type Sector Agnostic
DESCRIPTION

3i Private Equity is the private equity arm of 3i Group, a publicly held, global investment firm focused on private equity and infrastructure investing. 3i Private Equity generally targets buyout and growth capital financings and looks for opportunities across Europe, North America, and Asia. The Firm's targeted transaction range is €100 to €500 million. Industries of interest include business services, healthcare, consumer, media, oil/gas & power, technology, and financial services. 3i Group was originally formed in 1945 and is based in London.

DEAL STATS #
Overall 140 of 193
Sector (Restaurants) 2 of 2
Type (Add-on Acquisition) 43 of 60
Country (United Kingdom) 50 of 64
Year (2013) 6 of 16
Size (of disclosed) 61 of 77
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2013-03-08 Optical Carol

São Paulo, Brazil

Optical Carol sells a broad range of prescription frames and sunglasses. The company was founded in 1997 and is based in São Paulo, Brazil.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2013-03-27 Howden Group

London, United Kingdom

Howden Group is an international insurance intermediary group with insurance broking and underwriting agency arms. Howden Group was founded in 1994 and is based in London, United Kingdom.

Sell £250M
SELLER

Risk Capital Partners

London, United Kingdom

Investor Investor

website

Category Private Equity Firm
Founded 2001
PE ASSETS 75M GBP
Size Small
Type Sector Agnostic
DESCRIPTION

Risk Capital Partners is a private investment group focused on working with entrepreneurs and helping them achieve growth through acquisitions, roll-out programs, and bold organic growth strategies. Risk looks to invest £2 to £15 million of equity in established, profitable companies based in the UK and will consider opportunities across a broad range of industry sectors including consumer, retail, leisure, healthcare, financial services, transport, and support services. Risk Capital Partners was formed in 2001 and is based in London.

DEAL STATS #
Overall 4 of 13
Sector (Restaurants) 1 of 2
Type (Add-on Acquisition) 2 of 5
Country (United Kingdom) 4 of 13
Year (2013) 1 of 1
Size (of disclosed) 2 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2011-05-16 Bread Factory

London, United Kingdom

Bread Factory is a wholesale artisan bakery, that supplies a broad range of handmade breads, viennoisserie, and cakes to leading restaurants, hotels, and premium food shops. Bread Factory was founded in 1996 and is based in London, England.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2013-08-28 Red Hot World

Birmingham, United Kingdom

Red Hot World provides a buffet restaurant group, which serves English, Indian, Chinese, Italian, Tex-Mex and Japanese dishes. Red Hot World was formed in 2004 and is based in Birmingham, England.

Buy -
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