Tesco continues to offload assets in turnaround plan

Restaurant chain and Turkish business are sold

10th June, 2016
Giraffe chain sale part of Tesco turnaround plan Pic: Getty

Tesco has confirmed it is to sell the Giraffe restaurant chain to Harry Ramsden owner Ranjit Boparan and also offload its Turkish operations as the supermarket continues to sell off underperforming assets.

Mr Boparan, the boss of Fox's Biscuits, and Goodfella's pizza owner 2 Sisters, will pick up 54 standalone Giraffe restaurants, three of which are within Tesco stores.

The tycoon stands at number 267 on the Sunday Times Rich List with an estimated fortune of £430m.

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