Restaurant tycoon Page opens new chapter with Tasty deal
Sky News has learnt that David Page, who previously ran chains including PizzaExpress and Gourmet Burger Kitchen, is seeking close to £10m of new funding from institutional investors.
If successfully implemented, the deal would see Mr Page installed as executive chairman of Tasty, which would be renamed Bow Street Group on the London Stock Exchange.
Tasty, which owns the dim t and Wildwood casual dining brands, would acquire a cash shell owned by Mr Page and associates as part of the deal.
It would then seek to acquire a number of brands, for which it would act as an incubator.
Nick Wong, who worked with Mr Page at two of his previous ventures, would become Bow Street Group's finance chief if the plan is successful.
Tasty launched a restructuring plan last year which saw more than a third of its 54 sites jettisoned.
Recent trading at the company is said to have improved, although it continues to face the headwinds of inflationary cost pressures and the impact of tax increases which trade body UK Hospitality recently warned would result in a jobs bloodbath across the industry.
As part of Mr Page's fundraising plans, existing and proposed board members would commit more than £1m to a share placing, according to restaurant sector insiders.
The entrepreneur's career in the industry has spanned more than three decades, with the 1993 flotation of PizzaExpress a milestone.
He then floated Clapham House Group, which included The Real Greek concept, in London a decade later, before selling it.
Mr Page's subsequent venture, Fulham Shore, and its Franco Manca pizza chain were sold to Toridoll Holdings of Japan in 2023 for £93m.
Sources said his plans included a review of Tasty's existing sites
The fundraising is being coordinated by Cavendish and Allenby Capital, the investment banks.
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