Britain's Restaurant Group has acquired the Wagamama noodle chain for £357 million in cash, expanding its chain of pubs, and airport and shopping mall eateries.
Marking A Shift
The deal marks a shift for Restaurant Group, most of whose restaurants and gastropubs focus on American, TexMex and traditional British cuisine, and is expected to generate cost synergies of about £22 million.
Wagamama began in 1992 in London's Bloomsbury and has expanded steadily into a national presence since, becoming a familiar feature on British high streets.
Get a FREE Digital Subscription!Enjoy full access to Hospitality Ireland, our weekly email news digest, all website and app content, and every digital issue.
News by Reuters, edited by Hospitality Ireland.
Meanwhile, as reported by The Irish Times, Wagamama Irish franchise holder Press Up Entertainment issued a statement saying, "The sale of Wagamama global to Britain’s Restaurant Group will have no implications for the Irish outlets – each restaurant will continue to operate as normal."
Article posted by Dave Simpson for Hospitality Ireland. Click subscribe to sign up for the Hospitality Ireland print edition.