Restaurant Group buys pub-restaurant operator Brunning & Price for £32m

17 October 2007 by
Restaurant Group buys pub-restaurant operator Brunning & Price for £32m

Casual dining company The Restaurant Group (TRG) has added 14 outlets to its estate with a £32m deal for pub-restaurant operator Brunning & Price (B&P).

TRG, whose brands include Frankie & Benny's, Chiquito and Garfunkel's, said it expected the acquisition to boost earnings both in the current and future financial years.

It added that the acquired sites would continue to operate unbranded and that further B&P and Blubeckers restaurants would be opened in both rural and semi-rural locations.

B&P operates predominantly in the North-west of England, with five freehold sites and nine leaseholds. A further freehold site is currently undergoing redevelopment and is due to open next year.

TRG chief executive Andrew Page said: "Our pub restaurant businesses now comprise in excess of 40 sites located predominantly in Cheshire, the North-west and the South-east. The acquisition of B&P enhances our opportunities for future rollout and the further profitable development of our pub restaurant business."

In the year ended 30 June, P&B had a turnover of £17.95m and earnings before interest tax and depreciation of £3.9m, up 12% on the previous year.

B&P's management team will remain with the business.

The Restaurant Group adds new Blubeckers site to portfolio >>

The Restaurant Group makes ‘buoyant' start to the year >>

By Kerstin Kühn

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