Taylor Wessing has advised its client, Casual Dining Group, on its agreement to acquire the 41 strong Las Iguanas restaurant business from mid-market private equity firm Bowmark Capital.

The combination of Las Iguanas with Casual Dining Group's existing operations creates a business comprising 250 restaurants, fortifying the group's position as the UK's leading independent casual dining business. Importantly, the deal further accelerates Casual Dining Group's growth trajectory: the enlarged group plans to open 30 new sites over the next 10 months.

Commenting on the acquisition, Steve Richards, CEO of Casual Dining Group said:

"Las Iguanas is a proven, high-quality restaurant business that has been carefully developed over 25 years. It is clearly differentiated and is positioned for further growth. It fits perfectly with our strategy to create a scalable restaurant group comprising compelling brands, with broad appeal, which deliver industry-leading consumer and financial metrics. I would like to thank the team at Taylor Wessing for all the excellent support on this project, particularly given the challenging timetable."

Ed Waldron, partner in the Private Equity group who led the team at Taylor Wessing said:

"The restaurant sector is one that continues to go from strength to strength as consumers continue to eat out amidst increased confidence. This, in turn, has led to an increase in appetite for investment opportunities – from private equity and from further afield - with investors relishing the growth opportunities presented by a sector that looks set to continue to thrive. Las Iguanas is a strong brand, and Casual Dining Group's experienced leadership team will ensure it continues to grow."

Las Iguanas is a well-known national restaurant brand, with sites located from Aberdeen to Plymouth and trades predominantly on the high street but also on leisure parks and retail locations.

Ed Waldron led the Taylor Wessing Hotels and Leisure team and was supported by Rob Young (Partner, Tax) Martin Yells (Partner, Finance) Edward Story (Senior Associate, Corporate) Lerika Joubert (Senior Associate, Finance) Melissa Wilkins (Associate, Corporate) Julia McKendry (Associate, Corporate) Stephanie Creed (Associate, Employment) and Joe Aiston (Associate, Employment)

King & Wood Mallesons acted for Bowmark Capital.