Date published:15/09/2026
BTG has facilitated the sale of the quick service restaurant (QSR) and fast casual dining group Thai Express UK to Canalside Ventures Ltd.
The sale to the established hospitality company, which trades as Giggling Squid, completed on 7 September 2026 and will see the nine Thai Express UK locations and all staff transfer across to the new group.
The transaction was led by BTG Deal Advisory Partner, Felix Connolly, who worked with legal advisers from DLA Piper.
Despite widely reported difficulty in facing the hospitality industry, this deal is proof that strength and resilience remain in the market and there are opportunities for growth, particularly for companies looking to grow into other parts of the market. We look forward to advising more companies in hospitality and leisure with navigating a path to success through M&A processes and expect to see more transactions in the industry to follow.
Felix Connolly, Partner at BTG
Following a review of available options, a sale was recommended as the best route. BTG advised throughout the process from marketing the business to negotiating and selecting offers to deliver the highest value and best return for stakeholders. BTG also leveraged its international advisory capabilities to support with the complex cross-border negotiations and processes with the franchisor of the UK businesses, Thai Express Canada, which is part of the brand’s 300-strong global network of sites.
Through its purchase of the QSR brand, Giggling Squid aims to build on its successful portfolio of 50 casual dining restaurants across the UK with a new platform to enter and grow within the QSR and fast-food market segment.
Felix Connolly, Partner at BTG, said:
“We are pleased to have been able to advise on and facilitate a sale of Thai Express UK, which sees its nine sites and all the team members move across to Giggling Squid. By bringing together these two hospitality companies, Giggling Squid can develop its established and successful casual dining brand and drive future growth by diversifying into QSR and fast-food formats.
“Despite widely reported difficulty in facing the hospitality industry, this deal is proof that strength and resilience remain in the market and there are opportunities for growth, particularly for companies looking to grow into other parts of the market. We look forward to advising more companies in hospitality and leisure with navigating a path to success through M&A processes and expect to see more transactions in the industry to follow.”
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