Investment in Franco Manca restaurant franchise

RNS Number : 4839P

Fulham Shore PLC (The)

02 October 2013

 



2 October 2013

The Fulham Shore PLC

 ("Fulham Shore" or "the Company")

Investment in Franco Manca restaurant franchise

The Board of Fulham Shore is pleased to announce the Company's first investment, a new franchise of a Franco Manca restaurant, which is expected to open on Tottenham Court Road, London later this year.

The Company expects to invest around £250,000 into a newly incorporated, wholly owned subsidiary of the Company, FM98LTD LIMITED ("FM98").  FM98 has entered into a franchise agreement with Franco Manca 2 UK Ltd to operate a Franco Manca restaurant, initially for five years, for a sign-up fee of £15,000 and ongoing franchise fee of 5% of revenue.  FM98 has secured a five year lease at 98 Tottenham Court Road, London for the restaurant and fit out is expected to commence shortly in anticipation of the restaurant opening during November/December 2013. 

Franco Manca is a Neapolitan Pizzeria, specialising in sourdough pizzas baked in a traditional wood-burning brick oven.  There are currently five Franco Manca restaurants, in Brixton, Chiswick, Clapham, Balham and Stratford.

David Page commented "We are delighted to have made our maiden investment in this exciting and fast growing business.  We are very pleased with the location of the franchise, given its proximity to University College Hospital, RADA, the University of London and a large number of offices.  This investment fits in with our strategy to focus on the casual dining sector."

David Page and Nabil Mankarious, Directors of Fulham Shore, are directors of Franco Manca 2 UK Ltd and are directors of, and each own approximately 15% of, its parent company.

-ends-

For Further information please contact:

The Fulham Shore plc	www.fulhamshore.com
David Page	Tel: [phone]
Allenby Capital Limited Nick Naylor / Jeremy Porter / James Reeve	Tel: [phone]

 

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