Comptoir Group buys three Yalla Yalla restaurants

AIM-listed Lebanese restaurant chain Comptoir Group has bought the assets of rival Agushia from administration for £400,000.

As part of the deal the company bought three Yalla Yalla branded restaurants, which will continue operating under the brand’s name “for the time being”.

The assets acquired had an unaudited net value of £203,691 at 31 October.

For the year ended 30 April, Agushia had audited turnover of £2.4m and a pre-tax loss of £10,000.

This acquisition builds on its strategy to expand and grow following its initial public offering in June.

In its maiden interim results for the six months ended 30 June, revenue surged 24.6% to £9.7m, compared to last year, while profit rose 10.2% to £3.79m. Earnings before interest, tax, depreciation and amortisation (EBITDA) increased 9.2% to £1m.