Gateley Holdings Regulatory News (GTLY)

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Gateley advises La Tasca on acquisition by Casual Dining Group

National law firm, Gateley Plc, has advised the Management Team of Spanish restaurant chain, La Tasca, on its sale to Casual Dining Group (CDG), the operator of Bella Italia, Café Rouge and Las Iguanas.

Gateley's Manchester office advised the Management Team of La Tasca Holding Limited, the holding company of the 40 strong chain, on the sale. Led by Corporate partner, Mark Halliwell, and Real Estate partner, Rod Waldie alongside Corporate solicitor Leigh Whittaker, the Gateley team advised on all property and corporate aspects of the deal.

Mark Halliwell, Corporate partner at Gateley Plc, said: "Over recent years Gateley has been heavily involved in working very closely with management in their restructuring of the La Tasca business to enable this sale to take place.

"La Tasca are very well represented in the Manchester area and a sale to the Casual Dining Group will ensure that our local restaurants will continue to maintain and further develop a quality offering to the Manchester public."

The deal comes after the recent purchase of Las Iguanas by CDG and makes it 280 restaurants across the UK for the Group, including the six La Tasca restaurants that were based in Manchester.

Commenting on this, Mark Halliwell said: "I think this deal is a sign of the current strong desire there is for volume operators to acquire diverse brands to enhance high street footprint."

Simon Wilkinson, CEO at La Tasca Group, added: "La Tasca has a strong core of high performing sites and I'm pleased the business has found a good home with CDG. I look forward to helping guide the business through its next stage of development."

Gateley Plc recently became the first UK commercial law firm to float on the AIM market of the London Stock Exchange. The company raised £30 million as part of its listing and was valued at £100 million on first day of dealings.