Spanish tapas bar operator La Tasca has accepted a £96m takeover bid by the Tragus Group.

Private-equity leisure operator Tragus, owned by the Blackstone Group, offered 185p per share – a 12 per cent premium on the 165p closing price on the last day of trading (7 February) before the offer period began.

James Horler, chief executive of La Tasca, said: “Tragus is a good partner for La Tasca since the cultures of the two businesses are similar. La Tasca has excellent concepts which can be developed and evolved and talented people who are passionate about their businesses. This is an excellent deal for all our stakeholders.”

Graham Turner, CEO of Tragus, added: “It is our intention to continue to roll out the La Tasca brand with significant capital investment. La Tasca will provide a strong complement to our existing Café Rouge and Bella Italia brands and will provide Tragus with the number one Spanish casual dining brand in the UK.”

The Bolton-based AIM-listed Tasca group operates 58 UK and four US restaurants under the La Tasca, La Viña and Sam & Maxie’s brands. Details: www.latascagroupplc.co.uk