The Big Table is in advanced talks to buy the leisure division of The Restaurant Group, the London-listed casual dining operator, in a deal that would include a multi-million pound dowry, Sky News learns.
The owner of Cafe Rouge is in talks to buy Chiquito's and Frankie and Benny's, two of Britain's best-known restaurant chains.
Banking sources said this weekend that the talks were at an advanced stage and could lead to an imminent agreement.If completed, the takeover would involve TRG paying a multimillion pound dowry to The Big Table to take Chiquito's and Frankie and Benny's off its hands, sources said this weekend. They have also reinforced the company's desire to reinvest more aggressively in its successful Wagamama, pubs - which trade as Brunning & Price - and concessions divisions.
TRG, which confirmed on Friday that chairman Ken Hanna would step down despite the company's improving outlook, said this week that the Chiquito's and Frankie & Benny's estates were being shrunk from 116 sites at the end of last year to an anticipated 76 by the end of this.One analyst said this weekend that a deal would make sense for both parties, with The Big Table adding the two chains to a portfolio which includes Amalfi, Banana Tree, Bella Italia, Cafe Rouge and Las Iguanas.
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