Zolfo Cooper has overseen the sale of 43 Strada restaurants to Strada Trading Limited, a subsidiary of SCP Sugar Limited, an entity within Sun Capital Partners, co-founded by industry expert Hugh Osmond.
The sale forms a major part of the restructuring of the Tragus Group, which previously owned Strada.
Zolfo Cooper was appointed earlier this year to assist Tragus to undertake a financial and operational restructuring of its business.
As well as acquiring the sites, Strada Trading Limited will also employ all associated restaurant and head office staff. Paul Hemming, partner, head of corporate finance in Zolfo Cooper’s advisory services practice and head of the firm’s leisure industry team, led the sale process.
“This process attracted a considerable amount of interest which underlines the strength of the Strada brand,” says Hemming. “The sale to Sun has delivered an excellent outcome for all stakeholders as Tragus continues to reposition itself for growth.”
Taylor Wessing LLP acted for Zolfo Cooper and Olswang LLP acted for Sun Capital.
