D&D London, formerly Conran Restaurants, is set to announce the acquisition of Image Restaurants for a sum believed to be in the region of between £5m and £10m, writes The Times.
Image, which was founded by Chris Bodker in 1995, currently operates Kensington Place, The Avenue, Launceston Place and The Fish Shop.
It sold its Circus restaurant and bar in Soho to an unnamed Russian businessman for a fee in excess of £1m earlier this month.
The company, which announced it was carrying out a strategic review last year, reported an operating profit in 2006 of £700,000 from turnover of £6.4m.
It is understood that Bodker, who has a 25% stake in Image, will join the board of D&D.
The acquisition of Image will be the first major deal for D&D since Sir Terence Conran sold his 49% stake in the business as part of a Royal Bank of Scotland backed management buyout last September.
D&D has opened six new restaurants since the buyout, including the Skylon at the Royal Festival Hall in London.
Earlier this year it announced it would open a restaurant called The Cube in Birmingham’s new Mailbox development, which will open in 2009.
