Food billionaire Ranjit Boparan set to buy Tesco's Giraffe restaurants

Josh Martin
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Tesco is also reportedly looking for buyers for its Turkish subsidiary Kipa (Source: Getty)

Ranjit Boparan, owner of Harry Ramsden's restaurants, is set to buy Giraffe from Tesco.

Sky News reports the food tycoon's private investment vehicle Boparan Ventures, which also owns London-based chain Fishworks, is snapping up the restaurant chain for a "modest sum".

Boparan, whose known to be worth £1.35bn, is the founder of Britain's biggest chicken supplier 2 Sisters Food Group.

Read more: Every little helps: Tesco chief executive grabs £3m bonus

Tesco is also reportedly looking for buyers for Kipa, a Turkish grocery chain it acquired in 2003, as part of the retailer's plans to get rid of under- performing assets.

In April, Tesco partially offloaded its stake in ecommerce site Lazada to Chinese giant Alibaba.

The retailer's CEO Dave Lewis reportedly is looking for buyers for Harris + Hoole, the chain of coffee shops, and Dobbies, the garden centres business.

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