Scheme document published for the £93.4 million Recommended cash acquisition of The Fulham Shore by Great Sea Kitchens, a company wholly owned by TORIDOLL Holdings
TORIDOLL Holdings Corp is a Japan-based company mainly engaged in the directly operated business and franchised restaurant business.
The Company operates through four business segments:
- The Marugame Seimen is a specialty store for Sanuki udon, which offers products such as Sanuki udon and tempura in a self-contained format.
- The Cafe is a specialty store that offers home-roasted coffee and Hawaiian foods based on the concept of closest Hawaii centered on Kona’s coffee.
- The Butaya Ton-ichi is a specialty store for katsudon and tonteki.
- The Overseas segment provides food and drink such as Sanuki udon at overseas affiliated companies.
The Fulham Shore was incorporated in 2012 as a platform from which to identify, invest in and operate a range of growth restaurant businesses in the UK. Since then, the Company has acquired two businesses, in Franco Manca and The Real Greek, which have differentiated and proven value-for-money customer propositions.
Since the acquisition, the Company has grown The Real Greek from 7 to 27 restaurants; and grown Franco Manca from 10 to 70 restaurants in the UK.
Franco Manca has entered into franchise agreements in Greece and Spain as well as launched a Franco Manca Cook at Home range of retail pizza products in over 500 stores of a leading national supermarket.
On 5 April 2023, The Fulham Shore and Great Sea Kitchens (Bidco), a company wholly owned by TORIDOLL Holdings and in partnership with private equity fund Capdesia Group, announced the terms of a recommended all-cash acquisition of the entire issued and to be issued ordinary share capital of The Fulham Shore by Bidco valuing The Fulham Shore at £93.4 million.
Publication of the Scheme Document
Having produced the admission document for The Fulham Shore back in September 2014 and all stages of corporate reporting and shareholder communications throughout their corporate journey since, the Perivan team was delighted to work with Singer Capital Markets who acted Rule 3 adviser, Nominated Adviser and Broker and Marriott Harrison LLP who provided legal advice to Fulham Shore on the production of the 78-page Scheme and associated ancillary documents, which were successfully published and posted to qualifying shareholders on 16th May 2023.
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