Restaurant Group buys Wagamama for £559m and eyes expansion

Wagamama

The Restaurant Group has added to its UK restaurant chain holdings with the £559m acquisition of all 133 UK restaurants of Asian-themed chain Wagamama.

TRG, which already owns Frankie & Benny’s and Chiquito in its 381 restaurant UK portfolio, has agreed a deal to pay £357m in cash and assume £202m in debt from Wagamama’s founder.

The deal, which is expected to complete in December, will party be funded by a £315m cash call raise from TRG’s existing shareholders.

This content is only available to registered users

You must be logged in to continue

Gated access promo

Would you like to read more?

Register for free to finish this article

Due to the unprecedented challenge facing our industry at this time propertyweek.com will be entirely free to view to all users until 19 April. Register now to benefit from the following:

  • UNLIMITED access until 19 April
  • From 20 April, can still access up to four FREE articles per month
  • Breaking news, comment and analysis from industry experts as it happens
  • Choose from our portfolio of email newsletters

To access this article REGISTER NOW

Would you like print copies, app and digital replica access too? SUBSCRIBE for as little as £5 per week.

Registered users and subscribers SIGN IN here to continue