Wagamama owner acquires Mexican restaurant brand Barburrito in £7m swoop July 12, 2022 The owner of Wagamama restaurants has acquired Mexican fast-casual restaurant brand Barburrito for £7m. Announcing the takeover on Tuesday morning, the Restaurant Group said the purchase represented a next 12 months run-rate EBITDA multiple of 4.4x. The London-listed group said Barburrito’s offering was “well aligned with key consumer trends including healthy eating, convenience, customisable cuisine,” [...]
Wagamama owner warns of ‘volatile market’ as food and drink inflation surpasses expectations May 24, 2022 The owner of Wagamama has warned food and drink inflation is anticipated to be as high as 10 per cent this year, higher than earlier estimations. In a trading update ahead of its AGM, The Restaurant Group (TRG) said its cost pressures had been exacerbated by the war in Ukraine. Food and drink inflation was [...]
Wagamama sales surge ahead of pre-Covid levels as the Restaurant Group ‘mindful’ of Ukraine inflationary impact March 16, 2022 Wagamama owner the Restaurant Group has reported sales surging ahead of pre-pandemic levels as the hospitality sector recovers from lockdowns. In full-year results, the operator said like-for-like sales at Wagamama, plus its pubs and leisure divisions, were well ahead of the 2019 comparable. Pub sales were up nine per cent while its leisure division saw [...]
Wagamama owner TRG hikes profit forecast as it warns of slow battle to recover consumer confidence January 21, 2022 Wagamama owner The Restaurant Group has upgraded its profit expectations after strong trade at the end of last year despite Covid uncertainty. The group was affected by Omicron concerns and restrictions, such as guidance to work from home, but said it continued to trade ahead of the market. In a trading update on Friday, the [...]
Founder of former Cameron employer Afiniti steps down from investment firm amid sexual assault allegations November 29, 2021 The founder of former prime minister David Cameron’s former employer, Afiniti, has lost his role as chief executive of his investment firm after he became embroiled in sexual assault allegations. Zia Chishti stepped down yesterday as chief of TRG Pakistan two weeks after he left his role at Afiniti after he was accused of assaulting [...]
City Moves: Who’s switching jobs in the Square Mile this week? June 9, 2021 City A.M.‘s Millie Turner provides a roundup of the most important hires and job moves across the City, every Wednesday afternoon. Email citymoves@cityam.com to be featured. Chairman trades The Restaurant Group for the FA The Restaurant Group (TRG), which host brands like Wagamama and Frankie & Benny’s, has confirmed this week that its chairman will be stepping [...]
Debbie Hewitt to become first female chair of the FA as she leaves Restaurant Group June 8, 2021 Debbie Hewitt is set to become the FA’s first female chair, with the Restaurant Group confirming she will be leaving the same position at the hospitality firm this morning. Hewitt will leave the Restaurant Group – which owns Wagamama and Frankie and Benny’s – at the end of December 2021. Read more: FA Cup to [...]
Make it to-go: Wagamama boss Emma Woods heads for the exit April 19, 2021 Make it to-go: Wagamama boss heads for the exit
More than 150 London pubs, bars and restaurants closed permanently last year January 22, 2021 More than 150 London pubs, bars and restaurants closed permanently last year, the latest figures showed as the coronavirus pandemic continued to wreak havoc on the sector. The number of licensed premises in the capital in December shrunk 4.5 per cent compared to the previous year. That represented a drop from 3,460 venues to 3,303 [...]
Will Europe’s smaller companies deliver big returns? January 7, 2021 European equities have been largely unloved by investors for some time, having lagged their global peers over the past decade: the MSCI Europe ex UK Index has grown by circa 6% pa whilst the MSCI World Index is up circa 11% pa. European smaller companies have fared markedly better than their large cap counterparts however, [...]