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Apollo Ventures Into Food Industry: £700m Deal | Deep Dive

Apollo, a private equity firm, has acquired The Restaurant Group (TRG), the owner of popular noodle chain Wagamama, in a deal worth over £700m.

Apollo Global Management LLC signage during an interview on an episode of Bloomberg Wealth with David Rubenstein in New York, U.S. Photo: Getty Images
Apollo Global Management LLC signage during an interview on an episode of Bloomberg Wealth with David Rubenstein in New York, U.S. Photo: Getty Images

TRG expressed its support for the deal, citing the value it provides in the face of economic uncertainty and consumer spending challenges.

Under the agreement, Apollo will pay 65p per share for TRG, giving it a 34% premium on the market closing price.

This values TRG shares at approximately £506m, with debts included bringing the total to £701m.

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