Wed 28th Sep 2022 - Exclusive: The Big Table Group acquires Banana Tree Exclusive – The Big Table Group acquires Banana Tree: The Big Table Group, the operator of Las Iguanas, Bella Italia and Café Rouge, has acquired the fast-casual pan-Asian chain Banana Tree, Propel has learned. Founded more than 30 years ago by William Chow, Banana Tree started as a single site in London’s Maida Vale and currently operates in nine locations in the south east – six in London, and sites in Chelmsford, Milton Keynes and Oxford. Big Table Group said Banana Tree’s pan-Asian proposition adds a “key culinary category” to its existing portfolio of restaurant brands, and is a “complimentary extension aligned with key consumer trends including flavourful, fresh and convenient food, at an affordable price point and with favourable sustainability credentials – with 40% of its menu being plant-based”. Anne Chow will continue to lead the brand as managing director, reporting to The Big Table Group’s chief executive Alan Morgan. William Chow, an architect by training, will return to his original passion and work on the design of new Banana Trees with The Big Table Group team. Morgan said: “We are delighted to be welcoming the Banana Tree team to The Big Table Group. Creating, growing and acquiring high-quality, complimentary brands with widespread consumer appeal is a key part of our growth strategy and therefore Banana Tree is an excellent addition to the business. Anne and William have built a brand with an extremely loyal following, superb food and guest scores, plus excellent financial metrics, and we see great opportunities to grow the business, taking it into new towns and cities around the UK.” Anne Chow added: “We are very excited about this new chapter with The Big Table Group, and look forward to working with our new colleagues and bring our beloved brand to new customers across the UK. We also would like to thank Will Baxter and Payam Keyghobadi of DSW Corporate Finance who have gone above and beyond in their advisory role on this transaction.” Last year, The Big Table Group – which is backed by leading private equity group Epiris – announced plans to open 50 new restaurants and refurbish 70 existing sites over the next three years, investing £35m in new openings alone. The investment programme will take the group to 200 restaurants across the UK, while the company intends to invest a further £19m to refurbish its restaurants. Propel revealed in March that Banana Tree had appointed advisors as it explores its future funding options. Anne Chow told Propel at the time the group’s current trading was “extremely good, with consistently positive like-for-like sales from pre-pandemic”.