The Restaurant Group to go private after accepting £506m takeover bid

The Restaurant Group is the owner of more than 400 UK outlets including Wagamama. Photograph: Mike Egerton/PA

The owner of Frankie & Benny’s and Wagamama will be taken private after it accepted a £506m takeover offer from the US buyout group Apollo.

The Restaurant Group (TRG), which operates more than 400 outlets in the UK, said it had initially rebuffed an offer from Apollo but that further negotiations had finally resulted in an “appropriate” offer of 65p a share.