25 July 2024
Propel Exclusive – Big Table Group swings Leisure Division into profit:
The Big Table Group – the operator of Las Iguanas, Banana Tree and Bella Italia, has told Propel that the business is in “a good place” with what it has done with the former TRG Leisure Division, with the division, which includes Frankie & Benny’s, now back in profit after seven months under its ownership. At the end of October last year, the business completed the deal for the 75-strong TRG Leisure Division, which includes Frankie & Benny’s and Chiquito, for £1, with The Restaurant Group paying a cash contribution of £7.5m. The division was loss making when it was acquired, and after around seven months, it has made £3.5m.
It comes as the business is gearing up to trial a brunch offer in Frankie & Benny’s. Morgan said: “We are in a good place with what we have done with the leisure division. The business is now stabilised, the profit conversion has improved and we’ve got some good tests coming up. Some of the early feedback from when we first bought Frankie & Benny’s was that we needed to major a little bit more on some of the New York elements. Some of which lends itself a little bit more to all-day trading and a strong brunch offer. We don’t expect brunch alone to be a huge sales lever, but leaning more into the New York proposition allows us to add products that sit between breakfast and lunch like pastrami bagels, which means we have a stronger offer to capture guests late morning/11am rather than lunch service starting at 12pm. We are going to try it in three different sites just to see what the appetite is, testing in our main location types of leisure, city and town/high street, and we’ll see what happens. But, by and large, we’re not changing the broader offer that much. We’ll be putting a few things on the menu that we can talk a little bit more about and remind guest that we’re open to trade all day, so it will be more of a subconscious proposition message that just brings Frankie’s to the front of mind a little bit more. New York Italian is growing faster than it’s ever grown before, but no one thinks of Frankie & Benny’s as New York Italian. The biggest response you get when you ask guests about Frankie & Benny’s is are they still open? Not surprising, given the number of closures post-pandemic, so for us, there is certainly an awareness piece to do of saying yes, we are here, and actually, there is a site nearby open all day.
They average significantly higher average weekly sales than the market average, so when people know Frankie’s and it’s there, they want to use it. The Frankie & Benny’s sites take a lot more money than we would have estimated pre-sale, but they were losing more money than we could have estimated. Stage one was always to fix the profit loss. It was loss making when we bought it; we’ve had it for around seven months now and it’s made £3.5m so far. So by and large, Frankie’s is looking good and we’re excited about the next steps for the brand.
Chiquito is in a good place now too, and while I don’t have plans to grow the brand in the immediate future, that’s different to saying it will disappear from the high street overnight. Guests enjoy it and the locations add to our portfolio, giving us optionality in the future, and of course, if something happens over the next six to 12 months that it starts flying, then I might reappraise that decision. We converted our Bolton Chiquito to Las Iguanas earlier this year, which is going really well, and we will be doing another one. However, as most Chiquito’s are located where we already have Las Iguanas, there is no plan to convert all.”
22 Jan 2024
The Big Table Group has announced that Anne Chow is stepping down from her role as Managing Director of Banana Tree after 28 years with the business. She will be replaced by Kate Wilton, who will take up the role at the end of January.
Anne has been involved in Banana Tree from the very start when William Chow opened the first site in Maida Vale. Anne and William successfully grew the brand to 9 sites in and around London before Big Table Group acquired the business in September 2022. Since then, Anne has led the substantial growth of the brand to 19 sites in just over a year. She will remain in an advisory capacity to the Big Table Group’s executive team on continued roll out plans for Banana Tree.
Kate Wilton brings a wealth of experience in the hospitality sector, most recently leading the Slug and Lettuce brand at Stonegate Group, and prior to that holding senior Operations roles at Spirit Pub Company and Whitbread.
Alan Morgan, CEO of Big Table Group, said: “I’d like to thank Anne for an incredible journey with us. Whilst I am very sad to lose her from our executive team, I understand entirely that she has decided to take some time to herself after 28 years with Banana Tree. Her work overseeing the growth of the business in the last year is an amazing achievement, especially as it was done while integrating the business into the Group at the same time. I genuinely don’t believe this could have been achieved without Anne’s leadership, passion and determination to continue the Banana Tree success story. Anne and I have been working on this plan for a while, and we’re delighted that Kate has agreed to join us at an exciting time, as Banana Tree continues to grow into a national brand.”
Banana Tree was acquired by the Big Table Group in September 2022, as part of the Group’s strategy to acquire high-quality, complimentary brands with widespread consumer appeal. Nine new Banana Tree sites launched in 2023, in high footfall locations across London, the South East, Birmingham and Bath, and in February 2024, the brand will open its first restaurant in the North West, in Salford Quays.
Anne Chow commented, “After an incredible 28 years with Banana Tree, it is now time for me to step down and have a bit of a break. Spending time with my family and travelling are at the top on my “to do” list after the whirlwind of the past 18 months. Working with the Big Table Group and giving Banana Tree such a fantastic chance to grow to its full potential has been an immense pleasure and privilege and has been a great learning opportunity for me. “I can’t thank everyone at Big Table Group enough for their support and their commitment to make Banana Tree a major national brand while keeping our core values and obsession with great Pan Asian food, warm service and happy teams. I will always have a huge love for Banana Tree and am so proud to have been here from the start all the way to this exciting point, but it is now time for someone with different skills to continue this adventure and take the business even further. I wish Kate Wilton and everyone at Banana Tree and the Big Table Group the very best for this next stage of growth.”
In September 2023, the Big Table Group further added to its portfolio with the acquisition of The Restaurant Group’s Leisure Division, which includes the brands Frankie & Benny’s, Chiquito, Firejacks, Coast To Coast, Filling Station and EST, taking The Big Table Group to over 230 restaurants across the UK.
25 Sept 2023
Big Table Group has announced the appointment of Debbie Husband as Managing Director for the Leisure Division that was recently acquired from The Restaurant Group (TRG).
Debbie will join The Big Table Group in October. She most recently held the position of Managing Director at the Rank Group PLC, having joined the business as National Director of Operations in 2017. Before that, she spent 15 years at Travelodge, holding a number of senior operational roles in her time at the hotel company.
Alan Morgan, CEO of The Big Table Group, said: “Debbie is an outstanding operator and I’m delighted that she has decided to join at an exciting time for our business. We’re looking forward to welcoming her to The Big Table team.”
The Leisure Division includes the brands Frankie & Benny’s, Chiquito, Coast To Coast, Filling Station and EST, and complements The Big Table Group’s existing portfolio, operating across both the family and experiential dining markets. The deal is expected to complete at the end of October 2023, taking The Big Table Group to operating over 230 restaurants across the UK.
11 Sept 2023
The Big Table Group, the operator of Las Iguanas, Bella Italia, Banana Tree, Café Rouge and Amalfi, has announced the acquisition of The Restaurant Group’s Leisure Division.
The division includes the brands Frankie & Benny’s, Chiquito, Firejacks, Coast To Coast, Filling Station and EST, which now takes The Big Table Group to operating over 220 restaurants across the UK.
The make-up of the leisure division as a whole complements The Big Table Group’s existing portfolio, operating across both the family and experiential dining markets. The deal is expected to complete at the end of October 2023.
Commenting on the acquisition, Alan Morgan, Chief Executive Officer, The Big Table Group, said: “Creating, developing and acquiring brands that complement our existing portfolio whilst offering widespread consumer appeal is a fundamental part of our growth strategy. This exciting acquisition forms part of that strategy and we are delighted to be welcoming this new team in to The Big Table Group.”
Last year, The Big Table – which is backed by leading private equity group Epiris – announced the acquisition of Banana Tree, as part of its ongoing growth. Under its ownership, Banana Tree has since grown from nine to 15 sites, with plans to open at least a further three new locations before the end of the year.
13 June 2023
The Big Table Group has expanded its financial wellbeing offering to its staff at Banana Tree and has introduced unrestricted usage of a flexible pay feature. Initially launched, in 2019, in partnership with financial wellbeing provider Wagestream. The provider’s holistic financial wellbeing app gave the group’s users the ability to manage their budgeting, build up savings, and save money on bills. Now, its Banana Tree employees will also be able to use the app, with all 4,000 staff at The Big Table Group’s restaurants able to access up to 40% of their pay throughout the month.
The decision to expand its financial wellbeing offering is part of its commitment to positively impact employees’ financial wellbeing and to become a flexible pay employer. Financial wellbeing forms a key pillar of its overall wellbeing strategy, alongside mental health. Hayley Moosa, HR director at Bella Italia, The Big Table Group, said: “We are delighted to have worked with Wagestream since May 2019. The platform is an important component of our overall wellbeing strategy at The Big Table Group. In today’s challenging economic climate, we were keen to enhance our highly valued partnership with Wagestream so that the offering was more accessible to a greater number of our colleagues. By empowering people to get paid flexibly we hope to benefit both their immediate and long-time financial health.” In January this year, The Big Table Group rolled out a reward and recognition scheme to its employees in partnership with Each Person, offering them in the moment thank yous, the ability to fund eco-projects and encouraging healthy spending habits through its e-points store. It also made mental health training mandatory for new joiners and has also committed to providing training opportunities for staff to become qualified mental health first aiders.
31 January 2022
Las Iguanas’ Race to Rio tour, one of the hospitality sector’s best and longest-established employee incentive trips, is returning after a three year COVID-induced hiatus. The 2023 trip will be the company’s biggest yet, with more than 20 superstar team members set to pack their bags and their flip flops to jet off to Rio de Janeiro in the spring.
Places on the all-expenses paid trip to Las Iguanas’ cultural home nearly 6,000 miles away in Brazil have been secured through a series of incentives running over recent months, including Mystery Diner scores, along with VIP seats awarded to the General Manager of the year and the two runners up at last autumn’s Big Table Group conference. The final places will be decided early this year, with the lucky travellers heading off on their big adventure in April. In the meantime, Race to Rio ‘24 will kick off in January with opportunities to grab a seat on that flight throughout 2023.
First established in 2008, this will be the 13th Race to Rio tour, and this year’s winners will enjoy a whirlwind week away, with a fun-packed itinerary. They will scale the heights of Sugar Loaf Mountain and visit Corcovado to see Christ the Redeemer perched above the city. In between a trip to the Sambadrome, the home of Rio Carnival, and taking in a football match at the iconic Maracanã stadium, there will be plenty of chances to soak up the Copacabana vibes on the beach, hit the water for a boat party and sample plenty of Caipirinha cocktails at the home of Las Iguanas’ Magnifica Cachaça in the mountains behind Rio. The team will also drop in and say hi to the kids at Las Iguanas’ partner charity Projeto Vidançar in the Alemão Complex favela.
Race to Rio is just one of a whole host of incentives at Las Iguanas alongside a wide range of group-wide benefits. In total around 40 people will head off on their travels this year, with further annual excursions to Cuba and Mexico set to take place in conjunction with suppliers, while plans are also underway for Iguanacamp, the summer Support Managers’ conference and social. Regular competitions and prize draws, like the monthly ‘Your Rent Paid’ giveaway and on the spot ‘Nice-ness’ rewards also keep things exciting.
Alan Morgan, CEO of Big Table Group, said: “Las Iguanas is a genuinely fun and exciting place to work. People join because they love the Latin American vibes, but they stay because of the family atmosphere and the incredible, money-can’t-buy experiences we’re able to offer. Our Race to Rio trips have had an amazing impact on so many people throughout our business over the years, and I’m thrilled that more team members than ever will have the opportunity to enjoy this trip of a lifetime this year.”
As part of The Big Table Group, Las Iguanas is also able to offer their teams a host of valuable benefits including 50% team discount in all of the group brands (Las Iguanas, Bella Italia, Café Rouge, Amalfi and Banana Tree), 25% Friends and Family discount cards, a ‘Spend & Save’ platform along with discounted gym membership and cheaper tickets to Merlin attractions. The ‘We Care’ Employee Support package in place includes virtual GP and mental health support access and financial or legal advice. Wagestream, the real time finances-tracking tool, is also available to everyone as well as access to loans and savings through Salary Finance. Charity Days and Spend a Day With… are great opportunities to give something back or get an insight in to the workings of the wider group.
14 November 2022
John Baker has been appointed as the new Managing Director of Bella Italia. A senior operator with a wealth of leadership experience, John has held roles with Pizza Hut, Debenhams and more recently with Krispy Kreme, where he was chief operating officer.
John started his career with Allied Domecq, before joining Mitchells & Butlers. He was also Operations Director at Betty’s and Taylor’s of Harrogate.
Also joining Bella Italia is Megan Trimble, who recently started as Marketing Director. Megan spent three years with Tim Hortons UK & Ireland, and previously worked at The Restaurant Group and EAT.
Bella Italia, which operates 70 restaurants across the UK, is part of the Big Table Group, which also owns Las Iguanas, Café Rouge and Banana Tree. This summer, the Group restructured to ensure greater focus on brand performance and allow teams to dedicate all of their time, energy and resource to a specific brand, creating new Managing Director, Chief Operating Officer and HR Director roles within Las Iguanas and Bella Italia in the process.
28 September 2022
The Big Table Group, the operator of Las Iguanas, Bella Italia and Café Rouge, has announced the acquisition of the fast-casual Pan-Asian chain, Banana Tree, adding a new cuisine flavour to its family of restaurant brands.
Founded over 30 years ago by William Chow, Banana Tree is famous for its authentic, exotic and delicious street-food inspired dishes, with flavours from Thailand, Singapore, Vietnam, Malaysia and Indonesia. The business started as a single site in Maida Vale, London and currently operates in nine high-footfall locations in the South East – across London as well as prime sites in Chelmsford, Milton Keynes and Oxford.
The Banana Tree’s Pan-Asian proposition adds a key culinary category to the Big Table’s existing portfolio of restaurant brands, and is a complimentary extension aligned with key consumer trends including flavourful, fresh and convenient food, at an affordable price point and with favourable sustainability credentials – with 40% of its menu being plant-based.
Anne Chow will continue to lead the brand as Managing Director, reporting to The Big Table Group’s Chief Executive Officer, Alan Morgan. William Chow, an architect by training, will return to his original passion and work on the design of the planned new Banana Trees with the Big Table team.
Commenting on the acquisition, Alan Morgan, Chief Executive Officer, The Big Table Group, said: “We are delighted to be welcoming the Banana Tree team to the Big Table Group. Creating, growing and acquiring high-quality, complimentary brands with widespread consumer appeal is a key part of our growth strategy and therefore Banana Tree is an excellent addition to the business.
“Anne and William have built a brand with an extremely loyal following, superb food and guest scores, plus excellent financial metrics, and we see great opportunities to grow the business, taking it into new towns and cities around the UK.”
Anne Chow, newly appointed Managing Director, Banana Tree, said: “We are very excited about this new chapter with The Big Table Group, and look forward to working with our new colleagues and bring our beloved brand to new customers across the UK. We also would like to thank Will Baxter and Payam Keyghobadi of DSW Corporate Finance who have gone above and beyond in their advisory role on this transaction.”
Last year, The Big Table Group – which is backed by leading private equity group Epiris – announced plans to open 50 new restaurants and refurbish 70 existing sites over the next three years, investing £35m in new openings alone. The investment programme will take the group to 200 restaurants across the UK, while the company intends to invest a further £19m to refurbish its restaurants.
06 July 2022
The Big Table Group, the operator of Las Iguanas, Bella Italia and Café Rouge, has announced the addition of two brand new Las Iguanas restaurants at Center Parcs, taking its total number of restaurants at Center Parcs’ five UK holiday villages to fourteen. Guests will soon be able to enjoy the spirit of Latin America and sample Las Iguanas’ iconic and authentic flavours at Center Parcs Elveden Forest and Sherwood Forest, doubling the number of Las Iguanas sites at Center Parcs to four. Just in time for the late summer season, the new 284-cover restaurant and bar in Elveden Forest will open in August, creating 40 new jobs for the local area. The 269-cover restaurant and bar in Sherwood Forest will open in November, creating 40 new jobs for the local area. Big Table Group and Center Parcs extended their successful partnership in 2021 with a new six-year deal. The group operates four brands at Center Parcs, with Bella Italia, Café Rouge and new premium Italian casual dining concept, Amalfi, in addition to Las Iguanas. Center Parcs’ five luxury family holiday villages, at Whinfell Forest, Sherwood Forest, Woburn Forest, Elveden Forest and Longleat Forest, welcome 2.1m visitors each year. Alan Morgan, Chief Executive, The Big Table Group, said: “Our long-term partnership with Center Parcs demonstrates a strong relationship and acknowledges the continued demand for our brands at its villages. “Las Iguanas has consistently proven to be an extremely popular choice with guests of all ages, so it’s fantastic to add two more locations to our portfolio, and for Las Iguanas to become part of the Center Parcs experience for holidaymakers at Elveden Forest and Sherwood Forest.” Damaein Houghton, Group Food, Beverage and Retail Operations Manager, Center Parcs, added: “Las Iguanas is a household name and has been a real hit with guests at Woburn Forest and Longleat Forest, so we’re delighted to be bringing it to two more of our villages.”
Last year, Big Table Group announced the its ambition and strategy to open 50 new restaurants and refurbish 70 sites over the next three years, investing £35m in new openings alone, which would take the estate to 200 restaurants across the UK, while the company intends to invest a further £19m to refurbish its restaurants, with 70 major renovations in the pipeline.
15 June 2022
Big Table Group, is piloting a partnership with Pudu Robotics, the global leader in commercial service robots, in an effort to boost innovation and elevate the dining experience, becoming the largest restaurant chain in the UK to introduce robot technology. The retrieving robots, affectionately named ‘BellaBot’ are currently being trialled at the Bella Italia in Center Parcs Whinfell Forest. Designed to support team members with everyday tasks, the BellaBot features four shelves in the centre of its ‘body’ structure to carry plates. Once loaded, the cutting-edge robotic waiter interacts with guests when delivering food to diners to encourage customers to take their ordered dishes from the BellaBot. The BellaBot can be programmed to conduct certain movements around the restaurant to allow customers to take their desired dish in a buffet-like style. In Bella Italia, the BellaBot has been designed to rotate to the side of the table, allowing the staff to hand over the client’s plates, automating many supply-side processes. In special occasions and festivities, the robot can be arranged to perform and entertain whilst effecting its allocated tasks. For instance, in the case of a guest’s birthday, the robot can display customised wordings on its external frame and sing ‘Happy Birthday’.
Commenting on the new initiative, Lisa Gibbons, Chief Operating Officer, Bella Italia, said: “We’re always open to innovative solutions which benefit our teams, improve service and improve our guests’ experience, so we’re delighted to pilot the BellaBot. By having intelligent robots conduct simple tasks, such as retrieving dirty dishes, our teams are able to focus on doing what they love and delivering an amazing experience. It’s still early days in the trial, but we’re looking forward to seeing the impact that having an extra pair of ‘paws’ has on dining satisfaction.” Peter Shaw, Sales Development Manager for the Pudu Robotics, said: “Big Table Group are interested in their teams giving guests a great time, not in how many plates they can carry. We’re grateful for the opportunity to work with Bella Italia, and we’re looking forward to seeing the BellaBot make teams’ lives easier, and improve the experience of their customers
28 March 2022
Monday, 28th of March sees the launch of Amalfi, the new Italian inspired restaurant opening on Argyll Street, minutes from Oxford Circus station in the heart of Soho. The restaurant will offer a contemporary dining experience focusing on elevated simplicity, serving Italian inspired dishes, alongside an exciting cocktail menu. Amalfi will bring the relaxed Italian warmth of the Amalfi coast directly to the heart of Soho.
The restaurant will be split across two-floors serving 152 covers, as well as an outdoor terrace seating up to 20 guests for al fresco dining during the warmer months. Mosaic marble flooring, terracotta tiles and a relaxing private garden room seating up to 22 guests will create a calming oasis, infused with the very essence of the Amalfi coast. Garden-inspired surroundings including, ceramic plant pots, lemon trees and a large plant light chandelier will drape over the main staircase, creating a tranquil yet memorable dining experience.
Open for lunch and dinner, Amalfi will offer Soho locals and passers-by an array of delicious dishes, signature starters and memorable main courses.
The drinks menu has been carefully designed to offer guests a new drinking destination hotspot in the very heart of Soho. Guests will be able to choose from an array of drinks including cocktails, non-alcoholic cocktails, wine, beer and soft drinks.
Alan Morgan, CEO of The Big Table Group says, “We can’t wait to bring Amalfi to the Soho area. With a rising demand for effortlessly luxury dining we are excited for Londoners and visitors alike to experience all that the new restaurant has to offer.”
For further information on the opening, please visit: https://www.amalfi.co.uk
Instagram: @amalfiristoranteuk Address: 25 Argyll Street, Soho, London W1F 7TU
21 Nov 2021
Café Rouge in Haywards Heath has closed for a major renovation, with a new and improved restaurant set to open at the end of November.
TripAdvisor’s number 1 ranked restaurant in Haywards Heath, Café Rouge, on The Broadway, won a Travellers Choice 2021 award after earning consistently great reviews from diners. Locals can rest assured that the restaurant will be reopening in time for the festive season to bring people together again for great food and drink.
The new and improved restaurant will celebrate Parisian dining and the best of French cuisine, delivering relaxed quality and great value through a warm and inviting environment, excellent service and a carefully constructed French-influenced menu. The range will feature some classic favourites such as the signature Beef Bourguignon as well exciting new dishes including a more serious selection of vegan dishes like the Cauliflower Steak Frites.
The brand will retain the DNA of the Parisian Grande Brasseries that originally inspired Café Rouge, whilst embracing colour, softness and texture to provide all-day comfort for all occasions, whatever time of day. The restaurant will also benefit from increased outdoor seating, as well as outdoor lighting and heating, enabling al fresco dining on the Broadway all year round.
Steve Worrall, Brand Director, Café Rouge, said: “Haywards Heath is one of our standout restaurants, with a great team providing fantastic service. This is a big step for our business, and I couldn’t think of a more deserving restaurant to receive such an exciting refurbishment. We’re counting down the days until we can open again.”
Locals can expect the same much-mentioned exceptional service and welcoming staff, with the current team at Café Rouge Haywards Heath returning to post upon reopening.
General Manager, Javier Llopis, said: “Something very exciting is coming to Haywards Heath. The new restaurant is going to look incredible. Our team can’t wait to open again and serve the local community.”
The new restaurant will be offering a range of promotions and special offers on reopening. Locals should sign up to their mailing list at https://www.caferouge.com/sign-up to be the first to hear about them.
Café Rouge is owned by Big Table Group, who operate more than 150 restaurants across the UK and Ireland.
23 March 2021
After six years with the business, Chief Executive Officer James Spragg is to step down from Big Table Group. He will be succeeded in April by Alan Morgan, currently CEO of GLH Hotels.
Commenting on the development, Mike Tye, Big Table Chairman, said: “James has led Big Table Group through an unprecedented time of challenge for both the business and sector.
“On behalf of the Board, I would like to thank him for his many achievements during his six years in the business, as not only CEO of The Big Table Group, but previously as Chief Operating Officer, and MD of both Café Rouge and Bella Italia. Everyone at Big Table wishes James all the very best in the next chapter of his career.
“At the same time, we are pleased to have appointed a successor. Alan Morgan brings a wealth of leadership experience gained across the hotel, leisure and hospitality industries and I know he will be a great addition to The Big Table team.”
As well as GLH Hotels, Alan Morgan has held senior roles at Rank Group and Spirit Pub Company, and joins the business just weeks before many Big Table restaurants will reopen after a period of lockdown.
Mike Tye added: “Alan is just as keen, as am I, to get out and about in our restaurants, and enjoy some of the best experiences in the industry.
“We have all been so impressed with the resilience of our colleagues over these past 12 months; with their passion for their restaurants, brands and delivering great service, and the energy to get back to doing what they all do so well.”
09 February 2021
The Big Table Group is pleased to announce that a new premium Italian brand is to open on the site of a former Strada restaurant later this year. Amalfi will open once lockdown has been lifted at Woburn Center Parcs and will offer a delicious range of food and drink inspired by that served on the Amalfi Coast.
This move comes as part of an agreement to extend the residency of 12 restaurants owned by The Big Table group at various Center Parcs locations across the UK, all of which are due to be fully refurbished within the next two years. There are two Las Iguanas, four Bella Italia, five Café Rouge and now Amalfi to add to the group.
"This new long-term contract demonstrates the strong relationship between The Big Table Group and Center Parcs and acknowledges the continued demand for our Bella Italia, Cafe Rouge and Las Iguanas brands in high volume, high-quality locations" says Lloyd Bloom, brand director of concessions and franchising at The Big Table Group.
"Despite what is a very uncertain time for all, we are extremely excited to be looking ahead, with the refurbishments across the locations, as well as the introduction of Amalfi."
15 January 2021
14 September 2020
The Big Table, which was recently formed to acquire and operate the Bella Italia, Café Rouge and Las Iguanas restaurant brands, has appointed Mike Tye as its non-executive chairman.
With extensive board-level experience across the out-of-home food and drink market, Tye will work closely with Epiris, the private equity firm which supported the acquisition in August, and a senior management team led by CEO James Spragg and CFO Adrian Walker.
Tye has more than 30 years’ board and leadership experience in the UK restaurant and eating-out market. He is currently chairman of private equity-backed Moto Hospitality, and of privately-owned Haulfryn Group and vice-chairman of Prostate Cancer UK. He is former CEO of Spirit Group and recently stepped down as a non-executive director of The Restaurant Group PLC. Additionally, he has led Costa Coffee, David Lloyd Leisure and Premier Travel Inn. Mike also sits on the Council of UK Hospitality.
Commenting on the appointment, Epiris Managing Partner Alex Fortescue said: “We’re delighted to be working with Mike. There are very few individuals in the UK leisure and hospitality market with Mike’s accomplishments, standing and experience, and we are confident he will be a tremendous asset to James and the team at The Big Table.”
Tye commented: “With a talented management team in place and supportive, experienced investors, The Big Table represents an exceptional opportunity to build a first-class UK restaurant business. These are challenging times, but this is a strong business with brands that are popular with customers, and it is well placed to overcome the current uncertainty and deliver growth over the years ahead.” The Big Table comprises over 150 restaurants across its three core brands and its formation safeguarded more than 4,000 jobs across the UK. Epiris’ investment in the business has enabled it to reopen its restaurants over the past month. Around 140 sites are now welcoming guests, with the remaining openings planned for the coming weeks.
01 August 2020
A new business formed by private equity firm Epiris has successfully concluded a deal to take control of the Las Iguanas, Bella Italia and Café Rouge restaurant businesses, in concert with the existing management team led by CEO James Spragg.
In a process handled by AlixPartners, the business formerly known as Casual Dining Group (CDG) was acquired from administration, preserving more than 4,000 jobs across the UK and over 150 restaurants trading as Las Iguanas, Bella Italia and Café Rouge.
The new business, through which Epiris has made the acquisition, is to be called The Big Table.
Epiris has invested significant cash into the business to help spark a rapid unlocking of the group’s operations, with its restaurant businesses starting to reopen across the UK next week. It has also made a further commitment for future funding. The new business will carry no external debt.
James Spragg commented: "This is a very positive outcome for the business. We are delighted to have concluded this process and to be working with such experienced and knowledgeable investors. We inevitably emerge from this process as a leaner business, and one that is now equipped to navigate the challenges the industry faces, safeguarding thousands of jobs."
Ian Wood, Partner at Epiris, said: "In common with most of the sector, The Big Table’s restaurants have been closed since late March. We will work with James and his team to re-open the restaurants, bringing over 4,000 people off furlough to enable customers to enjoy dining out again. This transaction will enable the business to trade through the uncertain months ahead and invest in its three strong brands to deliver an even better experience for their customers."
Clare Kennedy of AlixPartners added: "We received a significant level of interest in the group which is a testament to the strength of its management team, the affection in which its brands are held by the public and the quality of its people. We are extremely pleased to have been able to help the group find a new investment partner with such strong industry credentials and we wish both parties and everybody who works at The Big Table all the very best for a successful future."
The management team, led by Spragg, with Adrian Walker as CFO, will look to reopen the business over the coming months and build on the robust financial performance it was delivering before the Covid-19 pandemic hit. The group plans to open as many restaurants as possible during August – in time to get behind the UK Government’s national Eat Out to Help Out initiative.
The new Big Table moniker is a reference to a far-reaching internal culture programme at the former CDG business that championed togetherness, diversity and inclusivity amongst all members of its business.
Spragg added: "This has been an extremely difficult and unsettling time for our teams and we’re pleased to now be planning to reopen our doors and re-focus our attention on what we do best, creating great experiences for our guests."
The terms of the transaction were not disclosed.
Epiris is a top-decile* private equity firm which invests in opportunities to transform businesses in partnership with exceptional management teams. It targets control positions in UK-headquartered businesses with an enterprise value of between £75 million and £500 million, deploying between £40 million and £150 million of equity.
For further information, please visit www.epiris.co.uk.
Epiris is authorised and regulated by the Financial Conduct Authority.
*As at 30 March 2020. Gross IRR does not reflect adjustments for investment management and administration costs. Comparator data supplied by Preqin. Past performance is no guarantee of future results.
15 May 2020
Las Iguanas, part of Casual Dining Group, has joined the Feed Our Frontline campaign and will be providing 1,800 hot meals a week for NHS workers at the Birmingham Heartlands and Queen Elizabeth hospitals.
The initiative, which will operate out of the company’s Temple Street branch in Birmingham, will see meals delivered three days a week starting from the 12 May. The meals include a range of the Latin American restaurant’s popular dishes, such as: Vegan and Beef Chillies; Burritos; and Brazilian Curries.
The restaurant has put a range of strict extra procedures in place to ensure the safety of all team members involved, which includes social distancing measures between staff and delivery drivers, contact-free handover of prepared meals, and regular sanitisation of the pass.
Feed Our Frontline brings together a coalition of well-known restaurants and food providers to provide free meals for frontline NHS workers who are battling the Covid-19 pandemic. It is funded by the FeedNHS initiative launched by Damian Lewis and Matt Lucas, and currently serves over 10,000 meals a day across the UK.
If you would like to donate to the initiative, please visit justgiving.com/fundraising/feednhs.
14 April 2020
Bella Italia, part of Casual Dining Group, has committed to providing 1,000 free meals to NHS staff serving on the frontline during the Coronavirus crisis this month.
Dedicated Bella Italia team members reopened the company’s South Kensington branch and began preparing freshly cooked pasta and pizza from its spring menu this week. The team are working with Deliveroo to provide the meals every week over the next month, as part of the delivery provider’s campaign to make 500,000 free meals for NHS workers.
The meal donations, which have received heartfelt praise from the West London NHS Trust, are the latest in a number of efforts Bella Italia has implemented to support the NHS. When the nationwide lock-down commenced, sites gave away their fresh food to the NHS, as well as elderly members of the communities they serve.
The restaurant has put a range of strict extra procedures in place to ensure the safety of all team members involved, which includes social distancing measures between staff and delivery drivers, contact-free handover of prepared meals, and regular sanitisation of the pass.
Lisa Gibbons, Brand Director at Bella Italia, commented: “This initiative, which the entire team has got behind, is indicative of our amazing team culture at Bella, something I’m immensely proud to be a part of. We’re delighted to contribute to this scheme and do our bit to support the NHS through these difficult and unprecedented times. As always, the safety of our team and guests is absolutely paramount, so we have taken extensive precautions and introduced new procedures and protocols to ensure that we can meet this commitment.”
Bella Italia also offers 50% off the total bill to all NHS workers and first responders, via a small number of sites that remain open for delivery via Deliveroo.
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