TRG buys back Deep Pan Pizza

Midmarket restaurant operator The Restaurant Group (TRG) has bought the Deep Pan Pizza (DPP) chain.

DPP was originally owned by TRG but it was sold to a management buyout team for £3.1m in 2001.

Since this time 19 units have been sold off, eight of which went back to TRG and were subsequently rebranded.

TRG has now regained control of the remaining 33 units in the group through an option to buy, although 20 are likely to be rebranded within the year and six sites are currently up for sale.

Andrew Page, chief executive of TRG, said: "Taking full control of DPP gives us access to the better sites, many of which have excellent potential as TRG-branded restaurants."

The remaining DDP sites will be reviewed and may be disposed of.

TRG saw strong trading across its portfolio in the second half of the year and especially over the Christmas period.

Full-year like-for-like sales for the group were up by 3%, which was in line with management expectations.

Page added: "The group has traded well during the second half year with a strong performance during December… a very encouraging performance against a subdued economic backdrop."

TRG opened 32 new units in 2005, eight of which were concessions. It plans to open 20 to 30 new units in 2006, in addition to the DDP conversions.

By Emily Manson

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