Bank Restaurant Group (BRG) has announced it is negotiating to buy the Zinc Bar and Grill restaurants from one of its major shareholders, Conran Holdings.

The announcement follows news that BRG is no longer contemplating merging with another restaurant group and is instead looking to grow its portfolio through acquiring existing businesses.

BRG’s new chair, Robert Breare, who joined the company earlier this month, said the group is looking to combine acquisitions and organic expansion in order to introduce new styles and brands into its existing portfolio.

“We are currently in the advanced stages of negotiation with Conran to secure the Zinc Bar and Grill restaurants,” said Breare.

“We expect that Conran would retain a significant invesment in Bank following any transaction and would also be actively involved in the management of the group.”

Breare’s previous company, hotel operator Arcadian International, was taken over in 1998 for £92m after growing from an initial value of £4.5m in 1990.