Tragus Holdings, the operator of Bella Italia, Café Rouge and Ortega, has acquired the Ma Potter’s casual dining business for £14.15m.
The deal will see Tragus acquire 16 trading restaurants plus two sites for future development.
It will convert some sites to its own brands, whilst reviewing the opportunity to develop a chargrill concept under the Ma Potter’s brand.
Tragus entered advanced negotiations after Brinker International, one of the biggest restaurant operators in the US, withdrew from discussions.
Ma Potter’s, which was founded by John Gater, operates predominantly in retail-led locations under the eponymous brand and its upmarket variant, M.A. Potters.
It also recently opened a site in Cardiff under its newly developed Coal Grill & Bar brand.
Its restaurants are typically between 3,000 and 4,000 sq ft, with 100 covers, and turnover an average of £1m a year.
Ma Potter’s head office in Regent Street, London, will close.
Tragus, backed by Blackstone, the private equity group, is also understood to be in talks to buy La Tasca Group, the Aim-listed rival that operates La Vina and Sam & Maxie’s alongside its eponymous brand.
