TRG in advanced talks to acquire number of Oakman sites
Details of the potential transaction remain unclear, but Sky News understands that its value is likely to be somewhere between £50m and £100m
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Wagamama owner The Restaurant Group (TRG) is in advanced discussions with Oakman to acquire a certain chunk of its privately held assets, according to Sky News.
One of the insiders revealed to Sky that TRG, which is backed by private equity firm Apollo Global Management, was expected to acquire between one-third and half of Oakman’s sites if completed successfully.
An insider revealed to Sky that the deal would see TRG integrating the newly acquired pubs into its Brunning and Price pub estate.
The outlet has also learnt that Oakman has been working on an auction with PwC for several weeks.
Details of the potential transaction remain unclear, but Sky News understands that its value is likely to be somewhere between £50m and £100m.
According to TRG’s most recent FY 2023 results, the group’s revenues increased from £717m to £824m, with pre-tax losses narrowing to £19.6m.
Dine-in sales rose across all divisions on a like-for-like basis, with Wagamama reporting an 11% increase, Brunning and Price up 10% and the concessions business seeing a 29% surge.
TRG and Oakman have been contacted for comment.
