D&D London, formerly Conran Restaurants, is to buy Image Restaurants, a privately owned rival that owns fashionable London restaurants Kensington Place, The Avenue and Launceston Place, as well as a fish shop, for a figure believed to be between £5m and £10m. The Times
Image's non-executive directors include Stuart Rose, the Marks & Spencer chief executive, and Michael Spencer, the Icap boss.
Chris Bodker, a former Warburg corporate financier who founded Image in 1995, is the biggest shareholder. He will join the D&D board and has a 25% stake.