Food billionaire Ranjit Boparan set to buy Tesco’s Giraffe restaurants
Ranjit Boparan, owner of Harry Ramsden's restaurants, is set to buy Giraffe from Tesco.
Sky News reports the food tycoon's private investment vehicle Boparan Ventures, which also owns London-based chain Fishworks, is snapping up the restaurant chain for a "modest sum".
Boparan, whose known to be worth £1.35bn, is the founder of Britain's biggest chicken supplier 2 Sisters Food Group.
Read more: Every little helps: Tesco chief executive grabs £3m bonus
Tesco is also reportedly looking for buyers for Kipa, a Turkish grocery chain it acquired in 2003, as part of the retailer's plans to get rid of under- performing assets.
In April, Tesco partially offloaded its stake in ecommerce site Lazada to Chinese giant Alibaba.
The retailer's CEO Dave Lewis reportedly is looking for buyers for Harris + Hoole, the chain of coffee shops, and Dobbies, the garden centres business.