If you’ve lived in Bangalore for a while, chances are you’ve heard of Toscano. The Italian casual-dining chain was founded by two chefs Jean Michel Jasserand and Goutham Balasubramanian more than a decade ago and has gained popularity since then.
However, it has now been reported that Samar Retail, part of Sara Futura Group, controlled by Barbeque Nation managing director Kayum Dhanani is in advanced talks to acquire Toscano as a part of a plan to built a national network for the restaurant.
When contacted, Samar Retail and Jean Michel of Toscano declined to comment. As such, the financial details of the impending transaction could not be ascertained. Toscano, owned by Red Apple Kitchen Consultancy, reported nearly Rs 33-crore revenue in FY17. Samar Retail already runs a pizzeria under the Onesta brand, hence sources say that Toscano will be run as a standalone company.