Wagamama sold to Frankie & Benny’s owner

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Restaurant Group, the owners of the Frankie & Benny and Garfunkel’s restaurant chains, has struck a deal to buy Asian-themed chain Wagamama.

The deal values the business, which opened its first restaurant in central London in 1992, at £559m.

Restaurant Group said Wagamama had “consistently and significantly outperformed its core UK market”.

It plans to expand the chain, which it says is well placed to capitalise on the trend for healthy eating.

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