Latest news
Nando's acquires Clapham House Group
Nando's Group Holdings (NGH), owner of the UK Nando's chicken restaurant business, is to acquire Clapham House Group (CHG) in a £30.4m takeover deal.
NGH already held a 27 per cent stake in the CHG business, which is behind the Gourmet Burger Kitchen and The Real Greek brands, but will now purchase the remaining shares. Directors at CHG have recommended that shareholders accept the deal, which sees the business valued at 74p a share and comes a week after the group warned of a "challenging" outlook.
NGH said that it had been motivated to make its offer due to CHG's "volatile weekly trading performance" and expectations that the UK sector remains vulnerable to fragile consumer confidence. In a statement to the London Stock Exhange, NGH said: "NGH plans to commit time and resources to Clapham House's brands, operations and organisation to promote best-of-class practices and a more robust business mode."