Private equity firm Epiris has completed a deal to acquire Casual Dining Group.

Under a new name – The Big Table – the Las Iguanas, Bella Italia and Café Rouge operator will maintain its existing senior management team, led by CEO James Spragg.

Whilst the terms of the transaction – which was handled by Alix Partners - have not been disclosed, Epiris is said to have invested significant cash into the business, saving over 150 restaurants and 4,000 jobs, and has also committed to future funding.

The group has said that its new Big Table moniker is a reference to the far-reaching internal culture programme at the former CDG business that “championed togetherness, diversity and inclusivity amongst all members.”

The group will look to reopen the existing estate over the coming months, and plans to open “as many restaurants as possible” during August, to coincide with the government’s Eat Out to Help Out scheme.

“In common with most of the sector, The Big Table’s restaurants have been closed since late March,” said Ian Wood, partner at Epiris. “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.”

“This is a very positive outcome for the business,” added James Spragg. “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.”

“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.”