Home Business News Restaurant Group sales surge over Wagamama acquisition

Restaurant Group sales surge over Wagamama acquisition

by LLB Reporter
17th May 19 12:10 pm

The Restaurant Group has seen a surge in sales during the first quarter of 2019 due to their acquisition of Wagamama.

The group who owns Frankie & Benny’s and Chiquito reported a hike of 2.8% in like-for-like sales in the 19 weeks to 12 May.

Sales surged 57% in the period due to continued benefit from their acquisition of the pan Asian restaurant chain they purchased for £550m in 2018.

They said that Wagamama “continued to significantly outperform in its core UK market” with strong performance from their pub business also.

Emma Woods, chief executive officer of Wagamama said, “The Wagamama team are unbelievably chuffed to have reached the five-year milestone of outperforming the Peach tracker.

“There are plenty of commentators who will happily tell you that this sector is doomed, but today we stand proud and say this needn’t be the case.”

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