Thai restaurant chain Rosa’s is on the brink of selling a majority shareholding to US private equity company Tri Span this week.
Founders Alex and Saiphin Moore are still set to be involved with the chain as minority shareholders while the company expands overseas.
Tri Span has been buying up restaurant chains recently after it purchased New York-based Rosa Mexicano and invested in Yardbird Southern Table & Bar.
Rosa’s posted sales of £8.2 million and “core earnings” of £1.4 million last year, with analysts saying its small and independent style helped it to defy the recent bad economic weather in high street restaurants.
The company recently opened a new vegetarian restaurant in Soho and another in Victoria focusing on north eastern Thailand cuisine.
Details of the deal are undisclosed.
“This is an exciting new partnership for the group and since joining last year Gavin has developed excellent strategies to support our future aspirations. Saiphin will remain a constant influence in the kitchens, and I look forward to focusing on maintaining the ethos and fairness that are the foundations of the business.”