Private equity group Hutton Collins this morning announced plans to buy Loch Fyne Restaurants for approximately £21.8m. Including debt, the deal will value the group, which also operates the Le Petit Blanc brasserie chain, at about £30m. The £10 per share cash offer was made through bid vehicle Premium Casual Dining. The company’s board of independent directors will unanimously recommend shareholders accept the offer. The current management team, led by chief executive Mark Derry, will remain in place under the new owner. Matthew Collins of Hutton Collins & Co, said: "We signalled our interest in Loch Fyne Restaurants early on in its strategic review and we are delighted to have this opportunity to be involved in the development of a high quality business, especially given its position within the UK premium casual dining sector." Loch Fyne operates 30 restaurants including Le Petit Blanc. Jeremy Hardie, chairman of Loch Fyne Restaurants, said: "The board of Loch Fyne Restaurants considered a number of potential exit routes for shareholders. The independent directors believe that this offer is both fair and reasonable and we commend it to shareholders as not only the best option, but an excellent outcome. "I personally see this offer and the return on investment which it provides as the fulfilment of much of what Loch Fyne Restaurant’s founder, Johnny Noble, set out to do when he established the company. It delivers on the promise made to shareholders five years ago to seek an exit, and promises to maintain the integrity of the Loch Fyne Restaurant brand while strengthening the bond with its sister company, Loch Fyne Oysters."