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.
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.