The Restaurant Group prepares to raise £315m for Wagamama deal despite criticism November 12, 2018 The Restaurant Group (TRG) pushed ahead with a rights issue to raise £315m to finance its acquisition of Wagamama today, despite concerns from analysts and investors. The rights issue to raise cash for the takeover will be underwritten by JP Morgan Securities, TRG said this morning, in a deal valuing the chain at £559m. “This a transformative deal [...]
Analysts express doubt over The Restaurant Group’s takeover of Wagamama’s November 11, 2018 Analysts have expressed doubt over Frankie and Benny’s owner The Restaurant Group’s (TRG) £600m acquisition of Asian fusion chain Wagamama’s. TRG is the preferred bidder in the sales process which was sparked in June by Goldman Sachs on behalf of private equity backers Duke Street and Hutton Collins, it was announced last month. However analysts [...]
Eat it up: Chiquito owner’s share price sinks as it confirms £559m Wagamama takeover October 30, 2018 Frankie & Benny's owner The Restaurant Group (TRG) saw its shares crash by almost 18 per cent in early trading today, as it launched a takeover approach for Wagamama. TRG has agreed to buy the holding company behind the pan-Asian restaurant chain, Mabel Topco, for a cash sum of £357m, saying it represents an enterprise [...]
Chiquito owner The Restaurant Group to bid £600m for Wagamama October 29, 2018 The Restaurant Group (TRG), which owns brands such as Frankie & Benny’s, Chiquito and Garfunkel’s, is in advanced negotiations to acquire Asian fusion restaurant chain Wagamama for £600m. TRG is now the preferred bidder in the sales process, which was initiated in June by Goldman Sachs on behalf of Wagamama’s private equity backers Duke Street [...]
Embattled Patisserie Valerie boss steps down from The Restaurant Group amid financial fiasco October 15, 2018 Patisserie Valerie’s boss has resigned from his role on the board of The Restaurant Group (TRG) “with immediate effect”, as he vies to keep the cake firm afloat in the wake of an accounting scandal. Paul May has stood down from his position at the group, which owns brands such as Frankie & Benny's and [...]
Restaurant Group in talks on acquisition with gastropub chain Peach Pubs September 16, 2018 The Restaurant Group is in talks with Peach Pubs over a possible takeover of the gastropub chain. Talks are still at an early stage and are not exclusive, with no guarantee of a deal, City A.M. understands. The Restaurant Group, the listed owner of brands such as Frankie and Benny’s and Garfunkel’s, has struggled in [...]