BIZ BUZZ: The Bistro Group in talks with buyer
Premium casual restaurant operator The Bistro Group, which operates 214 restaurants under 28 concepts including Italianni’s, TGI Fridays, Texas Roadhouse and Denny’s, is locked in talks with a possible buyer who sees its potential for further growth.
“There is an ongoing discussion,” confirmed The Bistro Group.
While it went on to say that “nothing has been finalized,” rumors continue to swirl over the identity of the potential buyer, with some wags saying that behind the buyout is a ranking political leader comfortable in the corridors of power.
Others speculate that the interested party is the same group behind the acquisition of another growing restaurant chain, while others are guessing that A. Soriano Corp. may have developed an appetite for a bigger stake.
To recall, the listed holding company acquired a minority stake in TBG Food Holdings Inc., which operates The Bistro Group, for P1.3 billion.
Anscor said then that it bought into the company as The Bistro Group is “in one of the most attractive and resilient market segments in the Philippines, the consumer sector.”
But Biz Buzz sources say that the prized asset may in the end fall into the hands of the Cheng family behind Bounty Fresh Group of Companies, that will then be able to complete the chain, from their poultry farms to the restaurant tables.
That The Bistro Group is never far from buyout talks is perhaps a testament that it is succeeding in its chosen field and may be too enticing for investors to pass up.
Will the Bounty Group—or somebody else—succeed in buying The Bistro Group? Abangan.
