Wagamama owner snaps up 10 pubs from Oakman Inns

The Restaurant Group (TRG), which owns the Wagamama brand, has acquired 10 freehold pubs from pub and restaurant chain Oakman Inns following speculation of a sale. 

According to yesterday’s report on Sky News, TRG had been in “advanced discussions” to buy some of Oakman’s privately held company assets.

Industry sources had told the site Oakman and its advisers were in the process of “negotiating with other prospective bidders” about a sale, with one of them suggesting TRG was likely to take on “between one-third and a half” of Oakman’s 30-strong portfolio and integrate this within its Brunning & Price arm.

TRG has since confirmed the ten Oakman pubs will form part of the Brunning & Price business, which the Wagamama owner described as a “significant strategic opportunity”.

Brunning & Price’s portfolio will grow from 79 to 89 pubs, with six of the ten new additions also offering bedrooms. The pub group’s footprint will also expand into central England.

Andy Hornby, chief executive of TRG, said: “Expanding our pub estate is a major strategic priority for us and we are delighted to have this opportunity to add ten high quality freehold pubs to our portfolio. We are confident that the Brunning & Price team, under Mary Willcock’s leadership, will provide an excellent home for the hard-working teams from Oakman.”

Mary Willcock, chief executive of Brunning & Price, added: “We have long admired Oakman Inns for the quality and character of their pubs and we are thrilled to welcome these pubs, and the dedicated teams behind them, into our B&P family.”

The deal is believed to be worth “somewhere between £50m and £100m”, according to Sky News.

TRG was sold to private equity giant Apollo Global Management for £506m in December 2023 after a turbulent year for the casual dining group, which saw activist shareholders dispute the direction the company and the renumeration packages offered to senior employees.

In September 2023, TRG also announced it would offload its leisure business arm, paying the Big Table Group £7.5m to take its Chiquito’s and Frankie & Benny’s brands off its hands.

The Oakman Group was founded by Peter Borg-Neal, who opened its first pub, the Akeman in Tring, in 2007. It now operates around 30 rural and suburban pubs and hotels across England and employs more than 1,600 people.

In November 2024, the pubs business sold two of its pubs to McMullen’s amid plans for fresh investment following a review of its strategic options.