LONDON — The restaurant hosting company that runs the website of the UK’s biggest restaurant chain, Red Lobster, will be acquired and replaced by eCommerce firm eCommerce Ventures.
The deal will see the merged company, which owns the Red Lobstering website and operates more than 20 restaurants across the UK, take over the eCommerce operations of Red Lobsters, which has over 700 restaurants worldwide.
The acquisition, to be completed in the second half of 2018, is expected to be worth $500 million, the company said in a statement.
The Red Lobsta website is owned by the same company that owns Red Lobsteering, which also runs several popular restaurants in the UK and abroad.
The two companies have also signed a licensing agreement in which the e-Commerce company will be responsible for the Red Locker brand and Red Lobstrating branded food products.
The deal is expected take effect in early 2019.