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Oodles for noodles

28 November 2018

Oodles for noodles

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.

We exhibited recently at the Restaurant Show at Olympia, where we met many fantastic owners of restaurants, cafés and bars. We love to give business advice to eateries, and our strategic team can help to develop businesses of any kind, whether food- and drink-related or not.

If you’re a restaurant owner, or work within any area of hospitality, and you’re looking to grow your business or – indeed – sell it, we’re here to help.  Call us on 020 8530 0720 or email paula.w@nordens.co.uk.