Tesco has bought restaurant chain Giraffe for £48.6 million under plans to transform its stores into family-friendly retail destinations.

The group plans to open Giraffe restaurants alongside larger stores, with the first due near London before the end of the year, as part of aims for customers to "meet, eat and drink, as well as shop" when they visit its supermarkets.

The deal will net a hefty windfall for Giraffe founders Juliette and Russel Joffe and Andrew Jacobs, who have sold their combined stake of around 54%.