The proprietor of Cafe Rouge, The Titanic Table, is in talks to snap up Chiquito’s and Frankie and Benny’s from The Restaurant Group (TRG).
According to a picture first printed in Sky Information, the agency, which is backed by deepest equity group Epiris, is in negotiations with TRG, the London listed agency which owns Wagamama to produce the casual dining chains.
If carried out, the deal would glance TRG pay a multimillion pound dowry to The Titanic Table to take the two restaurant chains off its hands, the picture said.
The sale of Chiquito’s and Frankie & Benny’s would involve round 75 websites.
A TRG spokesperson told City A.M: “TRG confirms that it’s in evolved discussions with The Titanic Table Group in relation to a in all probability divestment of its leisure business.
“While discussions are ongoing, there can even be no certainty that they’ll lead to a transaction nor as to the final terms of this kind of transaction. A further announcement shall be made as and when relevant.”
Both eateries own underperformed in contemporary years in comparison to TRG’s leading dilemma Wagamama.
Earlier this Twelve months, TRG said it would decrease its property by about 30 per cent, as it seemed to reduce loss making websites to increase profit.
Then again, the group has plans to open six Wagamama websites during the Twelve months and is setting a target to open between eight to 10 websites per Twelve months from 2024 onwards.
City A.M has contacted Epiris for a comment.