LONDON: Pizza Express, the debt-laden restaurant chain, has asked for due diligence from The Restaurant Group PLC (TRG), the owner of Wagamama and other brands. This could lead to a rival offer for TRG, which has already agreed to a £500 million takeover by Apollo Global Management. Wheel Topco, the entity that controls Pizza Express,…
LONDON, UK: Rock BidCo Limited, a special purpose vehicle indirectly owned by the Apollo Funds, managed by affiliates of Apollo Global Management, has agreed to acquire The Restaurant Group plc (TRG) at the rate of 65 pence/share in cash valuing the acquisition at approximately £506 million on a fully diluted basis, and implies an enterprise…
LONDON, UK: Big Table Group, the owner of Cafe Rouge, is in talks to buy the Chiquito’s and Frankie and Benny’s chains from The Restaurant Group (TRG), according to a Sky News report. The report said that TRG, which also owns Wagamama and Brunning & Price, would pay a multimillion pound dowry to Big Table…
LONDON: The Restaurant Group announced a proposal to reduce the size of its Leisure estate and rental cost base by the implementation of a company voluntary arrangement (CVA). The CVA will relate to the statutory entity “The Restaurant Group (UK) Limited” which principally comprises the Frankie and Benny’s estate. The arrangements will have no impact…