In a recent move that will impact 75 locations, two beloved family favourite restaurant chains have been sold.
Restaurant Group Sells Frankie & Benny's and Chiquito
The Restaurant Group (TRG) has completed a deal to sell both Frankie & Bennys and Chiquito to Cafe Rouge owner The Big Table group.
Focus on Other Brands
TRG has sold Frankie & Benny's and Chiquito in order to focus on its other brands, including Wagamama. As part of this strategy, TRG will be shutting down approximately 40 sites by April 2024.
Deal with The Big Table Group
The Big Table Group, which also owns brands such as Cafe Rouge and Bella Italia, will acquire Frankie & Benny's and Chiquito. The deal will see TRG paying £7.5 million in cash to Big Table and is set to be completed by March 31, 2024. The acquisition includes 75 restaurants and associated restaurant and management team employees.
Excitement for the Future
Alan Morgan, chief executive officer of the Big Table Group, expressed excitement over the acquisition, stating that it is part of the company's strategy. They are delighted to welcome the new team into The Big Table Group.
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