The Restaurant Group Ltd has announced the sale of its Concessions division to Areas, a global leader in travel dining and retail.
The transaction marks the culmination of a successful period of independent growth for TRG Concessions under the ownership of Apollo-managed funds.
Over the last three years, TRG Concessions has strengthened its presence across UK airports through contract renewals, refurbishments, new space, franchise brand partnerships and the successful operation of airport wagamama restaurants.
The business has established itself as a market leader across the UK’s busiest airports, known for its diverse brand portfolio, operational agility and passenger dining experiences.
As part of Areas, TRG Concessions will gain access to an extensive global network, further operational expertise and a wider portfolio of international franchise brands.
The move is expected to support continued expansion and enhance its offer to UK travel hub partners and customers.
TRG Concessions will continue to operate wagamama in UK airports under a franchise agreement.
The business will also work on expansion opportunities for the wagamama brand in European airports.
Andy Hornby, CEO of TRG, said: “On behalf of everyone at TRG, I would like to express our massive thanks to the extraordinarily hardworking and dedicated teams across the Concessions business who have consistently delivered high-quality hospitality experiences for both our customers and our airport partners.
“We wish all the team at TRG Concessions well and I am very confident of their continued success as part of the Areas Group.”
Jonathan Knight, CEO of TRG Concessions, added: “We are very grateful for the support and investment we have received from Apollo and the wider TRG team.
“We are delighted to be joining Areas and excited about what the next chapter will bring.
“Our commitment to our airport and rail partners remains unchanged, and they can expect the same high standards, strong relationships and focus on delivery that have always been at the heart of our business.”
The transaction is subject to customary closing conditions and is expected to complete by 26 July 2026.
TRG will provide customary transitional services for a period of time to ensure continuity for TRG Concessions partners, suppliers and team members.