The owner of the restaurant group (TRG), the owner of the Wagamama brand, has purchased 10 freehold pubs from Oakman Inns, a pub and restaurant chain, from the sale of previous rumors.
Yesterday’s Sky News report revealed that TRG was in “advanced discussions” to obtain certain funds from Oakman’s privately owned company.
Industrial sources told Sky News that Oakman and its advisors negotiated with other potential buyers. One source suggested that TRG is expected to acquire a third and a half from the Oakman’s 30-Pub portfolio, which will be included in its Brunning & Price division.
TRG has since confirmed that the ten pubs purchased from Oakman will integrate into its Brunning & Price division, which describes the change as a “significant strategic opportunity for the business”.
TRG CEO Andy Hornby said: “Expanding the pubi property is an important strategic focus for us, and we are pleased to add the opportunity to add ten high quality volunteers to our portfolio. We are convinced that Mary Willcock’s leadership offers an excellent home for Oakman’s hard work teams.”
Mary Willcock, CEO of Brunning & Price, added: “We have long admired the Oakman road houses about the quality and nature of their pubs, and we are excited to welcome these pubs and their dedicated teams behind our B&P family.”
According to Sky News, the transaction is estimated to be £ 50-100 million.
In December 2023, Apollo Global Management, Apollo Global Management, acquired TRG for £ 506 million after the strategic guidance of the year and the management team of the management team.
In September 2023, TRG revealed its plans to hand over its free time, agreeing to pay 7.5 million pounds to a large group of tables to master the brands of Chiquito and Frankie & Benny.
The Oakman Group was founded by Peter Borg-Neal, who launched his first site, Akeman Tring, in 2007. Today, the group operates about 30 pubs and hotels in rural and suburbs in England and employs more than 1,600 employees.
