Family restaurant chain purchased by Tesco

Supermarket Tesco has bought the Giraffe restaurant chain in deal worth close to £50 million as it attempts to attract more customers and boost sales.
In addition to purchasing the existing 48 eateries, the move will allow Tesco to offer the family-friendly dining experience in its stores across the country.
The supermarket giant is believed to be concerned about falling sales at its larger out-of-town stores, with consumers reportedly opting to shop at smaller convenience outlets or online.
Kevin Grace, Tesco’s group commercial director, said of the deal: “We have the opportunity to develop some of the space in our larger stores to create retail destinations that offer customers even more choice.”
This move is part of the supermarket’s efforts to turn some of its stores into destinations where people can “meet, eat and drink, as well as shop”. Last year’s purchase of a 49 per cent stake in the Harris and Hoole coffee shop chain was the first step towards this.
Tesco has made these acquisitions during a difficult time for the firm, with profits falling for the first time in 20 years in 2012 and the recent horse meat scandal.