All The Restaurant Group (TRG) articles – Page 2
-
NewsInvestor slams The Restaurant Group’s £506m price tag
Activist investor TMR Capital has slammed the price of the buyout deal for The Restaurant Group (TRG), claiming it undervalues the Wagamama-owner by around £100m
-
Analysis & InsightTRG/Apollo: ‘It’s rather cheap’
Following a bid for The Restaurant Group to be taken private by US private equity giant Apollo Global Management, MCA hears from analysts and commentators about their verdict on the proposed £506m cash deal
-
Analysis & InsightTRG bid an ‘attractive offer’
Analysts said Apollo’s agreement to acquire The Restaurant Group for £506m represents a “fairly full” valuation
-
NewsTRG to be taken private in £506m deal
The Restaurant Group has reached an agreement with Apollo Global Management for an all cash acquisition, representing an EBITDA multiple of x9
-
Analysis & InsightBig Table takes on ‘substantial risk’ with TRG Leisure estate
Following the payment of a £7.5m ‘dowry’ to take on The Restaurant Group’s Leisure business, MCA explores the challenges facing The Big Table Group as it’s tasked with turning around the loss-making estate
-
Analysis & InsightTRG’s leisure disposal ‘removes poison pill’
The Restaurant Group’s offloading of its leisure business was hailed for its “strong strategic rationale”, while the sites “may do better” under The Big Table Group, according to analysts
-
InterviewsBig Table to drive ‘strong improvements and synergies’ with Leisure acquisition
The group will find savings in the supply chain, overheads, and culture in its newly acquired business, CEO Alan Morgan tells MCA
-
NewsTRG announces sale of Leisure business to Big Table Group
The Big Table Group will take over the division, principally consisting of the Frankie & Benny’s and Chiquito brands, in a deal expected to complete in October - with TRG paying a cash contribution of £7.5m as part of the transaction
-
NewsTRG chairman Ken Hanna to step down
Hanna, who will not seek re-election in 2024 due to personal reasons, has become the focus of criticism from activist investors such as Irenic
-
Analysis & InsightInterims ‘reinforce’ TRG’s negotiating position
Outperformance, delivered in a competitive environment, puts the Wagamama owner in a stronger position as it weighs potential asset disposals, according to analysts
-
InterviewsTRG: ‘We’re reviewing our options from a position of strength’
CEO Andy Hornby tells MCA that the group’s Wagamama and Pubs divisions have seen real volume growth and outperformed the market, with the pace of expansion accelerated accordingly
-
NewsThe Restaurant Group deliver strong sales growth
The group said it has made “significant progress” in the first eight months of the year, delivering strong like-for-like sales growth despite the consumer backdrop
-
NewsActivist investor weighs bid for TRG divisions
Activist investor TMR Capital is reported to be weighing a bid for The Restaurant Group’s Brunning & Price and Leisure divisions
-
Analysis & Insight
Pressures to grow shareholder returns remains for TRG
The pressure to make large disposals also remains, with shareholder Irenic saying improved trading ’highlights the gap between the company’s intrinsic value and its significantly lower share price’
-
NewsTRG reports strong trading in year to date
The Restaurant Group has said it is reviewing its strategic options while accelerating the expansion of Wagamama, and reported progress on the rationalisation plan for its leisure estate
-
NewsActivist investors launch fresh attack on Wagamama owner
The salvo comes as The Restaurant Group’s finance chief steps down and its share price plunges by 20%, The Telegraph reports
-
NewsTRG announces changes to senior team
Mark Chambers, currently CEO of Leisure & Concessions, will be replaced by Jonathan Knight as he takes over the CFO role from Kirk Davis
-
Analysis & InsightDamage control: Righting the passage of TRG’s share price
Is The Restaurant Group’s new strategy a big enough catalyst to improve the position of its share price or is a more radical shake-up required? MCA reports
-
NewsNon-exec departure at The Restaurant Group
Alex Gersh will step down from his role as an independent non-executive director and chair of the audit committee in July
-
NewsFinnCap: Activist pressure on TRG likely to continue
Activist pressure will likely remain despite all resolutions passed with the requisite majorities at the AGM, albeit finnCap sees “considerable upside” for the group