Home / News / Olswang advises Sun Capital Partners on Strada ac...

Olswang advises Sun Capital Partners on Strada acquisition

29 September 2014

International law firm Olswang has advised Sun Capital Partners on the acquisition of 43 Strada restaurants from the Tragus Group for £37 million.

The Strada business comes with its existing management team, led by James Spragg and Zoe Tindall, and this team will work closely with Sun Capital, which has substantial experience in building successful restaurant chains.

Customers will see updating of the menu within a few weeks and investment in selected premises, but the full programme will roll-out in the New Year.

Hugh Osmond of Sun Capital said: "For us, this will be a story of investment and expansion. This is a fantastic group of restaurants and we have big plans to invest in the business and expand it. Our focus is on creating fabulous Italian dining, with an emphasis on fresh and healthy eating and on a place to hang out. The Olswang team are exceptionally experienced and Nick guided us through the deal with seamless professionalism."

Corporate partner at Olswang, Nick Crosbie said: "Sun Capital Partners' acquisition of Strada will breathe new life into an established and popular restaurant business. It is great to add this transaction to our roster of high profile restaurant M&A deals over the last 18 months."

The Olswang team was led by corporate partner Nick Crosbie with assistance from senior associate Kate Blumhof and associates Charles Turnham and Tom Jameson. The deal involved additional support from corporate partner Stephen Hermer, tax partner Stephen Hignett and tax barrister Mark Spinney, real estate senior associate James Norton, real estate litigation senior associate Chris Hobson, insolvency associate Caroline Grant, IP senior associate Joel Vertes and employment associate Gina Young.

Tragus was advised by Kirkland & Ellis, Zolfo Cooper were advised by Taylor Wessing, and the directors of Tragus were advised by Travers Smith.