India Outsourcing eyes UK restaurant market with major acquisition
posted in Outsourcing News and Top Outsourcing deals |Source: www.smallcapnews.co.uk
India Outsourcing Services has conditionally agreed to buy the London-based Mela Group of three Indian restaurants and a catering business in a reverse takeover worth £2 million in cash and shares.
The move will see India Outsourcing change its name to Indian Restaurants Group plc, with a strategy to roll out a chain of Indian restaurants throughout the UK offering authentic Indian food of a high and consistent quality.
Mela Group is a profitable chain comprising London’s Mela, Chowki and 3 Monkeys Indian restaurants and an outside catering business.
Amit Pau, chief executive of India Outsourcing, said: “Given the large but fragmented Indian restaurant market in the UK we believe we are particularly well placed to replicate the success seen in pizza, pasta and tapas chains.”
