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.

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