UK’s casual dining restaurant operator Tasty has confirmed advanced discussions with PizzaExpress former CEO David Page and Fulham Shore former finance director Nicholas Wong regarding potential board appointments, and also strategic funding opportunities, which may include an equity placing.
The company is considering various funding options to invest in future strategic opportunities.
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This follows reports from Sky News that Page is looking to raise nearly £10m ($13.4m) from institutional investors. If successful, this move could lead to changes in Tasty’s leadership structure.
According to sources, the potential equity raise could result in Page becoming Tasty executive chairman.
The company, which is the owner of the Wildwood and dim t dining brands, is also expected to undergo a rebranding to Bow Street Group on the London Stock Exchange, the news channel added.
The deal would involve Tasty acquiring Page as well as his associates’ cash shell.
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By GlobalDataNicholas Wong, given his prior experience working with Page at previous establishments, is set to assume the role of finance chief at Bow Street Group, if the proposal becomes successful.
The current and proposed members of the board are expected to contribute over £1m to the share placing.
Page’s plans also include a review of Tasty’s current restaurant portfolio.
The fundraising efforts are being managed by investment banking firms Allenby Capital and Cavendish.
Tasty plans to make further announcements as developments unfold.
In 2023, Japan’s Toridoll Holdings acquired Page’s previous venture, Fulham Shore, which included the Franco Manca pizza chain, in a deal valued at £93m.
Toridoll made the offer to acquire Fulham Shore, in April 2023.
