La Tasca is a Spanish restaurant and bar business which operates in the casual dining sector. It offers value for money and fast service with an authentic Spanish atmosphere.
Penta invested in La Tasca in September 2001, providing equity funding for the £27.2m management buy-in and for planned roll out. At this point la Tasca had 14 restaurants. In February 2005 La Tasca listed on the AIM market at an enterprise value of £71m. Penta realised 2.1x its original investment in cash and retained a 23% stake in the Group. By May 2007 the business had growth to 65 restaurants and was sold to trade for an Enterprise value of £105m taking Penta’s realisation proceeds to 3.9x cost of investment and an IRR of 38%.