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UK entrepreneur Osmond buys Strada dining chain for $60 million

Reuters - UK Focus

LONDON, Sept 28 (Reuters) - British entrepreneur Hugh Osmond has acquired restaurant chain Strada from Tragus Group through his investment vehicle Sun Capital in a 37 million pounds ($60 million) deal.

Sun Capital said in a statement on Sunday that it had acquired 43 Strada restaurants from Tragus, which is also the owner of the Cafe Rouge and Bella Italia chains.

Osmond, who co-led the stock market flotation of Pizza Express (NYSE: EXPR - news) in 1993 and later founded pubs chain Punch Taverns (LSE: PUB.L - news) , said Sun Capital had "big plans to invest in the business and expand it". (1 US dollar = 0.6155 British pound) (Reporting by Matt Scuffham; Editing by Michael Urquhart)