The Restaurant Group sells concessions division
The concessions division includes 38 hospitality locations in 10 UK airports.
The Restaurant Group Ltd has sold its concessions division to travel dining and retail company Areas for an undisclosed amount.
The division includes chains such as wagamama, Frankie & Benny’s, and Barburrito.
As part of the acquisition, Areas will assume responsibility for 38 hospitality locations across 10 UK airports, supported by a team of approximately 2,200 colleagues and generating annual revenues in excess of £203.86m (€240m).
Areas said the acquisition marks a major step towards its ambition of surpassing £2.55b (€3b) in annual revenue, whilst reinforcing its global scale and balanced international footprint. Upon closing, Areas will operate around 2,200 points of sale with more than 26,000 employees across 12 countries.
“This acquisition represents a transformational step forward in Areas’ European growth strategy,” said Óscar Vela, Global CEO of Areas. “By entering the UK through a leading platform with a strong presence in the country’s top airports and an outstanding portfolio of brands, we are further consolidating our leadership in travel hospitality. We are also delighted to welcome the TRGC teams to Areas, who share our commitment to operational excellence and delivering the best experience to travellers worldwide.”
