TGI Friday's Inc. entered into an agreement to acquire Hostmore plc in a reverse merger transaction on April 16, 2024. Following the transaction the existing Hostmore shareholders holding a 36% shareholding in the enlarged business upon completion (the "Combined Group"), with TGI Fridays shareholders holding a 64% shareholding in the Combined Group. The Proposed Transaction is being negotiated on an exclusive basis and is subject to, among other things, completion of confirmatory due diligence and the parties entering into binding transaction documentation. The transaction would be conditional upon the approval of an ordinary resolution by existing Hostmore shareholders and any necessary regulatory approvals. Upon completion of the transaction, the new combined entity would be named TGI Fridays plc and listed on the London Stock Exchange as "TGIF" with both US and global operations of the brand remaining in place at the company's Dallas headquarters under the leadership of current Chief Executive Officer, Weldon Spangler. Additionally, the combined entity would have 189 corporate-owned restaurants in the United States and the United Kingdom for a total of nearly 600 restaurants across 44 countries. The completion of the transaction would be expected to occur during Q3 2024.

Stuart Dickson, Alec Pratt, Jonny Abbott and Jack McLaren of Numis Securities Limited acted as financial advisor to Hostmore plc. Mark Harms and Simon Dunn of Global Leisure Partners LLP acted as financial advisor to TGI Friday's Inc.