The Restaurant Group

What The Restaurant Group does

The Restaurant Group (TRG) is a UK multi-brand restaurant and hospitality operator headquartered in Glasgow, founded in 1954 and owned since 2021 by Apollo Global Management following a take-private transaction. The Group operates hundreds of restaurants and pub restaurants across the United Kingdom through four divisions: Wagamama (Asian cuisine), Barburrito (Mexican fast-casual, acquired in July 2022 for £7 million), a Pub Restaurants division (expanded via the 2025 acquisition of 10 pubs from Oakman Inns), and a Concessions business operating principally at UK airports. The principal trading brands are Wagamama and Barburrito. The Group employs over 10,000 people and serves general consumer diners across casual dining and fast-casual segments in the United Kingdom.

TRG's revenue model is direct-to-consumer food and beverage sales through owned physical restaurant and pub locations, with no disclosed proprietary technology platform, app, or API layer. Distribution runs through own-brand retail storefronts (high-street and travel-hub locations), with marketing primarily via LinkedIn and brand websites. The go-to-market is horizontal within UK hospitality, targeting general consumers seeking diverse dining options across Asian, Mexican, pub, and travel-concession formats. Pricing is variable by menu item and venue, with no publicly disclosed pricing structure typical of consumer hospitality businesses.

Operationally, TRG has been navigating a challenging period post-Apollo acquisition: revenue rebounded from the 2020 pandemic trough through 2022-2024 with positive EBITDA, but net income has remained negative and the Group shed approximately 2,000 jobs amid widening losses. Activist investor Oasis Management disclosed a stake in January 2023, and in February 2026 TRG joined UKHospitality's Sustainable Chicken Forum, replacing its prior Better Chicken Commitment membership as part of a cross-industry ESG initiative covering animal welfare, decarbonisation, and water efficiency.

Name

The Restaurant Group

Legal name

The Restaurant Group ltd

Website

https://trgplc.com

Company type

Private

Founded year

1954

Operating status

Operating

Headcount range

5,001–10,000 employees

Short description

The Restaurant Group operates hundreds of restaurants and pub restaurants across the United Kingdom under principal brands Wagamama and Barburrito, plus a Pub Restaurants division and an airport concessions business, serving general consumer diners in the casual and fast-casual segments.

Ownership category

akta.pro rank

Product category

Casual Dining Restaurants

NAICS

Full-Service Restaurants (722511), Limited-Service Restaurants (722513), Drinking Places (Alcoholic Beverages) (7224), Restaurants and Other Eating Places (72251)

SIC

Retail-Eating & Drinking Places (5810), Retail-Eating Places (5812)

akta.pro primary industry

Ethnic & Regional Cuisine Restaurants (THAFACAD)

akta.pro secondary industries

Neighborhood Bars & Taverns (CRANACAA), Hotel & Resort Restaurants (THAFACAH)

Keywords

• Casual dining restaurants
• Fast-casual dining
• Multi-brand restaurant operator
• Pub restaurants
• Airport concessions

Headquarters

HQ city

Glasgow

HQ country

United Kingdom

HQ region

Europe

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Supply Chain, Infrastructure, Marketing or Sales

Revenue model

1. Restaurant and Pub Operations: The Restaurant Group operates hundreds of restaurants and pub restaurants across the United Kingdom, generating revenue through food and beverage sales to consumers at physical locations. The Group operates multiple dining brands including Wagamama (Asian cuisine) and Barburrito (Mexican fast-casual), as well as Pub restaurants and airport concessions.

Go-to-market motion1 record

Distribution channels2 records

Marketing channels2 records

Core offering

The Restaurant Group operates hundreds of restaurants and pub restaurants across the United Kingdom through its principal trading brands Wagamama (Asian cuisine) and Barburrito (Mexican fast-casual), as well as a Pub restaurants division and a Concessions business trading principally at UK airports. The Group generates revenue primarily through food and beverage sales to consumers at its owned physical restaurant locations.

Product overview

The Restaurant Group operates a multi-brand restaurant and hospitality portfolio organized into four main divisions: two principal trading brands (Wagamama, an Asian restaurant concept, and Barburrito, a Mexican fast-casual brand acquired in 2022), a Pub Restaurants division, and a Concessions business serving UK airports. The Group operates hundreds of restaurants and pub restaurants across the United Kingdom.

Differentiator

Problem solved

Functional benefit

Brands

• Wagamama: Principal trading brand - Asian cuisine restaurant chain
• Barburrito
• Pub restaurants
• Concessions

Products and services

• Wagamama Asian restaurant brand offering Japanese and Asian-inspired cuisine, operating as one of The Restaurant Group's principal trading brands and serving consumers seeking casual Asian dining experiences across the UK.
• Barburrito Mexican-inspired fast-casual restaurant brand acquired by The Restaurant Group in July 2022 for £7 million, serving as one of the Group's principal trading brands and targeting consumers seeking quick Mexican meals.
• Pub Restaurants Pub restaurant division operating multiple pub restaurants across the United Kingdom, offering traditional pub dining experiences to consumers.
• Concessions Airport concessions business trading principally at UK airports, providing dining and food service options to travellers at airport locations.

Segments1 record

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Three partnerships are on record, tiered core and minor.

• UKHospitalitycoreOthers · 1 February 2026The Restaurant Group joined the Sustainable Chicken Forum (SCF) launched by UKHospitality. The SCF is a cross-industry initiative covering animal welfare alongside decarbonisation and water efficiency, replacing the Better Chicken Commitment membership. The Group was one of eight companies owning or franchising 18 brands that joined this initiative.
• Oakman InnsminorStrategic or Co-development Partner · 20 May 2025The Restaurant Group (as Wagamama owner) acquired 10 pubs from Oakman Inns, expanding its pub restaurant portfolio. This acquisition represents a strategic expansion of the pub dining segment.
• BarburritocoreStrategic or Co-development Partner · 12 July 2022The Restaurant Group acquired Barburrito for £7 million. Barburrito operates as one of the Group's principal trading brands. This acquisition expanded TRG's portfolio with a Mexican fast-casual dining concept.

Scale indicators4 records

Recent moves6 records

Expansion highlights4 records

Direct peers

• Marston's: UK pub and pub restaurant operator. Directly comparable to TRG's pub restaurant segment with similar guest demographics and property-driven cost structure.
• PizzaExpress: UK casual-dining restaurant chain currently owned by a Cordia-style investor group. Overlaps directly with TRG's full-service / casual-dining portfolio on customer proposition and operating model.
• Greene King: UK pub and pub restaurant operator owned by CK Hutchison. Overlaps directly with TRG's pub restaurants division on operating model and consumer base.
• Fuller, Smith & Turner: Historic UK pub and pub restaurant operator. Comparable to TRG's pub division in concept, customer segment, and geographic footprint.
• SSP Group: UK-listed operator of food and beverage outlets in airports and travel hubs. Directly comparable to TRG's Concessions business, sharing the same captive travel-consumer channel.
• Mitchells & Butlers: UK-listed operator of managed pubs and restaurants (All Bar One, Toby Carvery, Harvester, Browns). Directly comparable to TRG's pub restaurant and full-service dining portfolio at similar scale.
• JD Wetherspoon: UK pub operator running ~900 Wetherspoon pubs. Comparable to TRG's pub restaurant division in operating model, consumer segment, and UK geographic exposure.

Broad incumbents

• Whitbread: Owner of Premier Inn, Beefeater, and Brewers Fayre — a large UK hospitality incumbent. Comparable in scale and UK full-service restaurant / pub operations overlap, though lodging-focused.
• Compass Group: Global contract foodservice and support services giant. Comparable as a broad foodservice incumbent with overlapping UK restaurant and concessions footprints, though primarily contract-led rather than consumer-brand-led.

Emerging players

• Nando's: Privately held UK fast-casual chain serving Portuguese-inspired grilled chicken. Comparable to Barburrito in segment, format, and UK high-street presence.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat3 records

Key risks6 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/the-restaurant-group
• Xx.com/careers_trg

Revenue estimate

Valuation estimate

Number of profiles

Subsidiaries4 records

Funding overview

Funding rounds1 record

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A5 records

Investments1 record

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about The Restaurant Group