The hospitality firm which owns Wagamama is in talks to purchase a bit of Oakman Group, the pub and restaurant chain.
Sky Information has learnt that The Restaurant Group (TRG), which is backed by the personal fairness agency Apollo World Administration, is in superior discussions to purchase a few of the privately held firm’s belongings.
Business sources stated that Oakman and its advisers have been negotiating with different potential bidders a few sale of its remaining belongings.
Oakman trades from greater than 30 websites, and has been working with advisers from PricewaterhouseCoopers for a number of weeks on an public sale.
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One insider stated TRG was prone to purchase between one-third and half of Oakman’s websites if the deal was efficiently accomplished.
The client, which is run by former Boots and Coral chief Andy Hornby, would then combine them into its Brunning & Value pub property, the insider added.
Additional particulars of the potential transaction have been unclear on Monday afternoon, though it’s prone to be value someplace between £50m and £100m.
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The Oakman sale course of comes amid intensifying strain on the hospitality business, with current tax rises and jittery client confidence triggering recent warnings of job losses and enterprise collapses.
Final week, Sky Information revealed that RedCat, the pubs operator based by former Greene King boss Rooney Anand, was in talks to swoop on his former employer to purchase its pub-hotel operations.
TRG and PwC declined to remark.
