28 November 2018
Wagamama, the noodle chain with the catchy name, is set to become to most expensive restaurant takeover ever in the UK.
The hopeful purchaser is proposing to spend oodles of cash – £559m to be precise – to buy the restaurant chain, and it’s being discussed by the shareholders right now, as this report is flying off the keyboard.
If the sale goes through, Wagamama will inject growth into the new company’s portfolio, which currently includes Frankie & Benny’s and Garfunkel’s. There’s a high price to pay though, as the figure is the equivalent of 13 times earnings – a huge investment. This proposed price is likely to be the highest per restaurant ever paid in the UK, going at around £4m per leasehold site. The chain has 133 restaurants across the UK, and it’s being proposed that about 50 further ones would open under the new owner’s care.
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