Carlson move fuels TGI Friday's expansion

RESTAURANT chain TGI Friday's is poised for expansion after hospitality group Carlson bought out its British partner and pledged to open a further 16 branches in the near term.

Carlson, which already operates the US diner-style business outside these shores, has snapped up the 60 per cent stake of the UK arm it did not already own from private equity outfit AAC Capital Partners. Yesterday's agreement values TGI Friday's UK at some 60 million.

Carlson said it would pump about $100m (63.9m) into the UK operation - financing the stake purchase and plans to add 16 restaurants to its 46-strong network over the next five years.

It is also working to expand its wider global TGI businesses, with overall aims to add at least 160 restaurants worldwide to nearly 1,100 within by 2015.

The inaugural UK TGI opened in Birmingham in 1986, marking the brand's first international restaurant. It was launched in Britain by Whitbread, which held the UK franchise rights to the chain before selling it back to Carlson in 2007.

TGI was originally founded in the US, with the first restaurant opened in New York in 1965.