The Restaurant Group prepares to raise £315m for Wagamama deal despite criticism November 12, 2018 The Restaurant Group (TRG) pushed ahead with a rights issue to raise £315m to finance its acquisition of Wagamama today, despite concerns from analysts and investors. The rights issue to raise cash for the takeover will be underwritten by JP Morgan Securities, TRG said this morning, in a deal valuing the chain at £559m. “This a transformative deal [...]
Weapon of choice: How nutrition brand Grenade has exploded into the market November 12, 2018 Grenade is the kind of brand that just appears out of nowhere – you blink and suddenly the products are a staple stock in shops around the country. For those who have somehow missed the craze, Grenade is a food company specialising in healthy snacks – and now you’ve heard the name, you’ll probably start [...]
Analysts express doubt over The Restaurant Group’s takeover of Wagamama’s November 11, 2018 Analysts have expressed doubt over Frankie and Benny’s owner The Restaurant Group’s (TRG) £600m acquisition of Asian fusion chain Wagamama’s. TRG is the preferred bidder in the sales process which was sparked in June by Goldman Sachs on behalf of private equity backers Duke Street and Hutton Collins, it was announced last month. However analysts [...]
RPC extends deadline again for private equity suitors November 5, 2018 FTSE 250 packaging company RPC today said it had asked regulators to extend the deadline for two potential private equity bidders to make a firm offer for the company. Plastics maker RPC had previously announced that it was in discussions with private equity firms Apollo Global Management and Bain Capital. Under takeover rules the pair [...]
Investors positive about investing in UK post-Brexit November 5, 2018 Investors are more positive about investing in the UK post-Brexit this year than they were last year, according to a survey released today. The research shows that 62 per cent of investors are more likely to invest in the UK post-Brexit, up from 31 per cent last year. Overall 88 per cent of investors said [...]
A second referendum would not heal the country’s divisions but it would unleash a fresh wave of uncertainty November 4, 2018 Business leaders will this week hurl themselves back into the Brexit debate as some of the most high-profile figures from corporate Britain join the campaign for a second referendum. They were pretty vocal during the first one, with a series of interventions and letters used to highlight the legitimate concerns that many sectors and firms [...]
IWG boss mulling £2.2bn break-up of serviced office space business November 3, 2018 The world’s largest serviced office space provider is mulling a £2.2bn split which could result in swathes of the company’s international portfolio being sold off, according to Sky News. Mark Dixon, who runs IWG and founded the company under its original Regus brand, is said to be weighing up plans to split the firm into two [...]
The City helps fuel economic growth right across the country, so be wary of those who want to clip its wings October 28, 2018 One of the most pernicious elements of Labour's current economic platform is the idea that the City is entirely distinct from (and damaging to) the so-called real economy. Jeremy Corbyn and John McDonnell's stump speeches routinely contain attacks on predatory bankers, fat-cats and financial speculators. The labour leader also seems to have a personal vendetta against [...]
Largest UK vet clinic chain Independent Vetcare Group to be put up for £1.5bn auction October 24, 2018 The UK's largest chain of veterinary surgeries, Independent Vetcare Group (IVC), is set to be put up for auction. Controlling shareholder, Swedish-based private equity house EQT Partners, has commissioned US investment bank Jefferies to launch an auction of IVC in the coming weeks, Sky News reports. Read more: What happens to our pets when we fly Insiders [...]
Craft beer brand Brewdog is trying to mature after a tough year of marketing disasters October 22, 2018 It’s been a tough year for Brewdog, much of it the brand’s own fault. Tone-deaf advertising campaigns and PR mishaps have frustrated its fans and “equity punk” investors (I speak from personal experience – I’ve been a shareholder since 2015). The Scottish craft beer brewer, founded in 2007, is as well known for its marketing stunts as [...]