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Tesco buys Giraffe restaurants

  • British supermarket group Tesco announced on Wednesday it had acquired bought the restaurant chain Giraffe for $72.7 million.

    The move will see the supermarket giant open Giraffe branches near its stores in order to create "retail destinations" for customers.

    Tesco cited Giraffe's popularity with a wide range of ages, particularly families, as part of the reason behind the decision.

    Giraffe founders Russel and Juliette Joffe and Andrew Jacobs will remain as the management team, with Russel Joffe continuing as managing director.