The Restaurant Group
| Company type | Public limited company (formerly) |
|---|---|
| Industry | Restaurant and pub chain |
| Founded | 1987 |
| Founder | Matthew Brown |
| Headquarters | London , United Kingdom |
Area served | United Kingdom, United States (Wagamama) |
Key people | Andy Hornby (CEO until 2020) |
| Products | Restaurants and pub restaurants, concessions |
Number of employees | Not specified |
| Parent | Apollo Global Management (since December 2023) |
| Website | www |
The Restaurant Group plc is a prominent UK-based restaurant and pub chain, with key brands such as Wagamama and Barburrito. Additionally, the Group manages Pub restaurants alongside a Concessions division focused mainly on airport locations throughout the United Kingdom.
History
Established in 1987 by Matthew Brown under the name City Centre Restaurants plc, the company initially oversaw the Garfunkel's Restaurant chain. During the late 1980s, it expanded by acquiring the Mexican dining chain Chi Chi's, which was subsequently rebranded as Chiquito. By 1995, the business had grown to 151 outlets and introduced its first Frankie & Benny's venue in Leicester. In January 2004, prior to making a bid for Ask Central plc, it adopted the name The Restaurant Group plc.
In 2006, TRG regained ownership of the Deep Pan Pizza brand. Facing declining sales in 2016, the group closed 33 underperforming restaurants but broadened its portfolio by purchasing Wagamama for £559 million in 2018. That same year, its Brunning & Price arm expanded through acquisition of Ribble Valley Inns and later secured an 11-site collection including Coco Momo wine bars for £15.4 million.
Amid the COVID-19 crisis in 2020, TRG revealed plans to permanently shut up to 120 locations—primarily Frankie & Benny's—leading to between 2,000 and 3,000 job cuts. The company entered into a company voluntary arrangement (CVA) to reorganize operations and intended to reduce its estate by 125 venues. In October 2020, more than one-third of shareholders expressed opposition to CEO Andy Hornby's remuneration package amidst widespread closures and workforce reductions.
By 2023, The Restaurant Group divested most of its holdings except for Wagamama, Brunning & Price, and Barburrito, selling them to The Big Table Group for £7.5 million. Later that year in October, the board endorsed a £506 million acquisition proposal from US private equity firm Apollo Global Management (APG). Apollo finalized the purchase in December 2023 for £701 million.
Operations
As of December 2019, The Restaurant Group plc operated a network exceeding 400 restaurant and pub restaurant locations across the United Kingdom. Its multi-brand Concessions division predominantly functions within UK airport terminals. The Wagamama brand extends internationally with six restaurants in the United States and over fifty franchised sites worldwide.
Subsidiaries
- Barburrito
- Brunning & Price
- Wagamama (flagship brand)