TRG acquires B&P for £32m

The Restaurant Group (TRG), the casual-dining company, which operates Frankie & Benny's, Chiquito and Gar-

funkel's, has acquired Brun-ning & Price (B&P), the pub restaurant operator, for £32m.

B&P currently operates 14 sites, predominately in the north-west of England. Its estate includes five freehold sites and nine leaseholds, with a further freehold site, which is currently undergoing redevelopment, set to open next year.

In the year to 30 June 2007, B&P generated restaurant Ebitda of £3.9m, an increase of 12% on the previous year. Its existing management team will remain with the business.

TRG said it expects the acquisition, which has been satisfied through existing banking facilities, to be earnings enhancing in current and future financial years. It said that the deal provided it with increased opportunities to further develop its pub restaurant business, which now includes more than 40 sites.

TRG said that the B&P sites would remain unbranded and that it would look to roll out further B&P units and its Blubeckers pub restaurant brand in both rural and semi-rural locations.

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. This acquisition enhances our opportunities for future rollout and the further development of our pub restaurant business."