Tesco to buy family restaurant brand Giraffe
Tesco is buying family restaurant chain Giraffe for £48.6m in a move that will see it integrate the brand into its larger stores.
Giraffe: set to be acquired by Tesco
The supermarket giant has bought a 100% stake in the company as part of its strategy to develop the space in its larger stores to create a destination where customers can "meet, eat and drink, as well as shop".
News comes after Tesco boss Philip Clarke admitted in a blog post that coffee chain Harris+Hoole, which it owns a 49% stake in, will be put into Tesco stores when the founders of the upmarket coffee brand are "ready".
The investment in the Giraffe and Harris+Hoole brands fits in with the vision Clarke laid out for Tesco's hypermarkets last year, which will involve a slimmed down form focused on food, services and clothing rather than other non-food items such as electrical appliances.
Kevin Grace, group commercial director at Tesco, said: "We invest in businesses that add value for our customers online or offline; as we’ve done with Harris + Hoole, Euphorium, BlinkBox, and now Giraffe.
"We have the opportunity to develop some of the space in our larger stores to create retail destinations that offer customers even more choice."
Giraffe was founded by husband and wife Russel and Juliette Joffe and Andrew Jacobs in 1998 and has grown to 48 branches after the first branch opened in Hampstead.
The Joffes and Jacobs will be kept on by Tesco to run the expansion of Giraffe with Russel Jacobs continuing as managing director.
Tesco said the first Giraffe restaurant to open next to a Tesco store will be "near London".
Revelations about the impending Giraffe comes after Tesco received another blow from the horsemeat scandal yesterday (12 March), when it was discovered Tesco Simply Roast Meatloaf had between 2% and 5% horsemeat in it.
This article was first published on marketingmagazine.co.uk
Latest jobs Jobs web feed
- Senior Account Manager fishtank 32k to 42k per year GBP, Maidenhead, Berkshire
- Graphic/Web Designer fishtank 17k to 27k per year GBP, United Kingdom
- ACCOUNT DIRECTOR/SENIOR ACCOUNT DIRECTOR - BTL/SP/Brand Experience - London - £45 - £55k plus bonus Judi Patton £45K-55K plus bonus, London/Greater London
- Digital Brand Manager Nike Europe Competitive + attractive relocation package for foreign hires, Amsterdam
- Head of Media, Marketing & Communications PGA Competitive, Sutton Coldfield, West Midlands
- senior planner > SPORTS BRANDS collectivo Up to £90,000 plus benefits, London
Integrated digital marketing offers huge opportunities to engage, servic...
With UK consumers spending an average of £1,083 a year online, int...
Conversational Mobile Marketing: Engage Customers and Empower Advocates (Expert Reports) External website
The pressure is on for marketers and mobile operators to embrace a strat...
As a nation, the UK is media and technology obsessed with over half of t...
All customers have the potential to become your brand advocates, driving...
A recent Brand Republic survey revealed that 78% of respondents felt und...