Prezzo, the restaurant group led by Jonathan Kaye, has acquired three former Paramount Restaurant sites out of administration for £1.125m in cash. The c.175-strong group has acquired the leasehold interests of three sites operating under the Brasserie Gerard brand in Cobham, Surrey; Marlborough, Wiltshire; and Sevenoaks, Kent. Prezzo said it had been keen to have representation in these towns. The three restaurants will operate under the Brasserie Gerard brand in the short-term and will continue to do so immediately after completion. Over the course of 2012 each of the sites will be closed and refurbished before reopening under one of Prezzo's existing trading formats, which comprise its eponymous brand, Chimichanga, Caffe Uno and Ultimate Burger. The group said the transaction figure was subject to adjustment for stock values on site at the point of transfer. Over the last 18 months, Prezzo has made a number of strategic openings in new territories, such as north of England and Scotland, and completed several bolt-on acquisitions. It previously acquired 11 sites from Paramount Restaurant in August last year for £3.1m, in a deal which added the Caffe Uno brand to the group’s portfolio. In March, a further six sites from Paramount were collect for £550,000. The deal helped to underpin the company’s anticipated opening plans of at least 20 new restaurants over the course of 2011, a figure it will reach with six new Prezzo sites set to open this month. The 24-strong Paramount Restaurants was placed into administration last month. So far eight sites have been acquired by Brasserie Blanc, one by new vehicle SBG Restaurants and two by Spaghetti House. It is thought that offers have been accepted by administrators Deloitte on several other sites.