Clapham House Group (CHG), a company created by former PizzaExpress boss, David Page, has acquired the Indian food chain, Bombay Bicycle Club, for £2.4m.

Bombay Bicycle’s current owners, Julien Cahn, Debediil Sawuck and Manjit Shihn accepted a deal that will see them receive £1.84m cash, with a further £575,000 paid over the next year.

Page is now looking to expand Bombay Bicycle, which currently has one restaurant and five takeaway delivery units, to become one of the largest restaurant chains in London.

In a statement, CHG announced that the concept could become popular enough to support up to 40 outlets across the capital.

Page said: “After all our strategic research and number crunching in this area, our decision to acquire the Bombay Bicycle was based on two critical factors – buying the business with the best tasting food and the busiest restaurants.”

Sawuck and Shihn will stay on to oversee the initial expansion phase, as Page is considering following the company’s current strategy of having an anchor restaurant surrounded by a number of individual delivery sites.

Sarah Willingham will act as the new managing director of the fledgling chain, after buying 9.5 per cent of the equity as a performance incentive.

Bombay Bicycle was founded in 1986 and its sole restaurant has become one of the most recognised in south west London.

The acquisition is the second high-profile coup for CHG, which last December purchased the Real Greek chain that includes the award winning outlet in Hoxton. Details: www.claphamhousegroup.com