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By Pádraig Hoare



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A €400m acquirement of the Wagamama alternation by British close Restaurant Accumulation will accept no appulse on the Irish authorization endemic by Paddy McKillen Jr’s Press Up Entertainment Group.

Press Up operates three Wagamama restaurants in Dublin and will abide to do so, admitting Restaurant Accumulation affairs the brainstorm alternation for £357m (€400m).

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Shares in Restaurant Accumulation plunged added than 18% on the acquisition, a transaction it is allurement shareholders to advice fund.



Analysts advance the amount was conceivably on the aerial ancillary and acclaimed it will accord the accumulation added acknowledgment to the UK’s disturbing aerial street, which has been hit by the abnegation in customer spending.

Restaurant Accumulation operates added than 500 restaurants and pubs which accommodate Frankie and Benny’s, Chiquito, Coast to Coast, Garfunkel’s, Firejacks, Brunning & Amount and Joe’s Kitchen.

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It additionally operates a acknowledgment business which trades over 60 outlets in added than 30 brands, primarily in UK airports. Press Up Entertainment Accumulation operates three Wagamama franchises at South King St, Dundrum Town Centre, and Blanchardstown Centre.

“The auction of Wagamama all-around to Britain’s Restaurant Accumulation will accept no implications on Irish outlets of Wagamama, anniversary restaurant will abide to accomplish as normal,” a backer for Press Up said.

A agent for Restaurant Accumulation accepted there would be no change to the Irish authorization agreement.

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The accord marks a about-face for Restaurant Group, best of whose restaurants and gastropubs focus on American, Tex-Mex and acceptable British cuisine and is accepted to accomplish amount accumulation of about £22m.

Restaurant Accumulation will barrage a £315m rights affair to armamentarium the deal, which it expects to be balance enhancing.

The aggregation said the accord had an action amount of £559m, and included 138 directly-operated restaurants in the UK and the US and 58 franchised restaurants in Europe, the Middle East, and New Zealand.

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Wagamama began in 1992 in London’s Bloomsbury and has broadcast steadily.

Additional advertisement Bloomberg and Reuters

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