Restaurant Group Buys Wagamama
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.