James Horler, the former chief executive of La Tasca and current interim chief executive of Red Hot World Buffet, is planning to launch and roll out La Sala, the famous Spanish restaurant, in the UK.
The development of the company, to be named La Sala Limited, will be financed through the launch of an Enterprise Investment Scheme (EIS) which will aim to raise between £3.5m and £4.5m.
Horler, who will chair the new venture, told M&C Report that the company is hoping to attract celebrities and sports men and women into investing into the business, with the caveat that they have to agree to visit one of the brand’s sites once a month.
So far footballers, including Alexander Oxlade-Chamberlain, Paul Robinson, Raheem Sterling and Joleon Lescott, have agreed to invest in the new restaurant and bar business, which will sit in the premium-casual sector and feature a modern European menu. Average spend per head will be around £35.
La Sala UK aims to roll out quickly over a three-year period with two sites to be launched in the first year. The first site is likely to be in the South East and relatively close to London. A number of sites are under consideration, and Horler said the company was particularly keen on launching in Essex. The group, which will open the restaurants under licence in the UK, will focus on securing 7,000 to 8,000sq ft units for the high-volume concept.
Horler, who is joined in the new company by Steve Tatlock as finance director and Barry Aldridge to guide on licensor conditions and strategies, said he hoped the brand could reach four sites under its first round of funding and that it could eventually be rolled out to selected locations across the south.
He is set to appoint an operations director to oversee the brand’s development in the UK at the start of next year, who he hopes will eventually step up to become chief executive of the company in time.
The original Puerto Banus-based restaurant already includes a number of football players as investors such as former Tottenham Hotspurs full back Stephen Carr and has had offers to expand to other countries, but is focused on the roll out in the UK.
Horler said the brand would look to capture the “same quality and high energy ambience as its namesake in Spain”. He said: “It will offer quality fresh gastronomy coupled with entertainment and excellent value for money, open all day through until late.” The concept will also offer coffee, premium cocktails and live music every evening.
Horler, who is also currently involved in 3Sixty Restaurants, Charterhouse Leisure, Ping Pong and Patisserie Valerie, previously grew the La Tasca brand from 16 restaurants in 2001 to 74 in 2007 when the business was sold for £134m.
He said: “The La Sala brand already has international recognition, celebrity status and is a firm favourite with Britons who holiday in Southern Spain. We are aiming to bring a little bit of sunshine to these shores transferring the La Sala blend of atmosphere, quality, exceptional service and value that is part of the proven formula for success. I am really excited about this opportunity as this a totally different concept and the right brand to bring to the UK at this time.”
Paul Gilligan at Syteways has been retained by the group to aid in identifying possible sites.
