Today’s news in brief – 12/10/23

TRG, the operator of brands like Wagamama, is set to go private through a £506m deal with Apollo Global after facing financial struggles and investor pressure. TRG, which owns about 400 UK restaurants and pubs, cited falling margins due to rising costs and a sluggish post-pandemic recovery. The deal offers TRG shareholders 65p in cash per share, a 34% premium over the last closing price, and is expected to be completed in early 2024.

RTL Enterprises has opened a new Chopstix restaurant on Baker Street, marking its ninth franchise location for the brand. The company has focused on expanding the brand in London, with high-performing sites in Walthamstow and Putney. They plan to open a 10th store in Bexleyheath by the end of the year. RTL Enterprises manages all aspects of the sites, and their employees undergo extensive Chopstix induction training. 

Chef Ashley Palmer-Watts is set to open The Garden Cobham in Surrey, transforming the former restaurant site into a multifaceted dining experience. The establishment will feature a high-end 35-seat restaurant with a garden terrace, a 52-seat wine bar, a café, a bakery, and luxury guest accommodation in the future. The outdoor area will be restored with a kitchen garden in a historic two-acre walled garden. The restaurant is expected to launch in spring 2024.

Driffield’s Tiger Inn has been revitalised with a £196k investment by the Craft Union Pub Company. The historic pub, established in 1823, received a facelift on the exterior, creating a welcoming ambiance for the community. Inside, new furniture, fixtures, and fittings have refreshed the interior while preserving the venue’s character. The garden has also been transformed with additional seating and outdoor heaters. Operator Rhian Livingston aims to make the pub a central part of the community.