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    RTN   GB00B0YG1K06

THE RESTAURANT GROUP PLC

(RTN)
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Delayed London Stock Exchange  -  11:35:06 2023-02-03 am EST
36.70 GBX   -1.66%
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Jones the grocer and The Restaurant Group (TRG) Concessions win large concession award at London Heathrow Airport

12/06/2022 | 04:39am EST

- One of the largest concession awards at London's Heathrow Airport

- 'Jones the Grocer' and 'Jones the Grocer Express' set to open in Terminal 2 in 2023

- Largest Jones the Grocer airport store in the world and the first in the United Kingdom

Dubai, United Arab Emirates - Jones the Grocer, the artisan café, bakery, patisserie, gourmet grocer, deli and cheese monger headquartered in Dubai, announces further global expansion into the United Kingdom in collaboration with TRG (The Restaurant Group) Concessions Ltd, one of the UK's leading travel hospitality operators, and a division of TRG PLC. This exclusive development agreement for the United Kingdom's airports created a winning bid for one of the largest concession awards at London's Heathrow Airport where two venues, Jones the Grocer and Jones the Grocer Express, are set to open in 2023.

Comprising over 5,900 square feet in Terminal 2's international departure lounge, Jones the Grocer will showcase culinary theatre in a food hall style development to create a truly immersive dining experience. A bar will serve craft beers, wine and cocktails alongside artisan cheese and meat boards as well as sharing plates. Chefs will cook Jones the Grocer's modern, globally influenced, laidback food for breakfast, lunch and dinner in a live grill and kitchen. An island bao bar will steam and simmer an array of savory buns and noodle bowls. An Italian pizza oven and pasta bar will treat travellers to hand-thrown pizzas and freshly tossed pasta. With over 170 seats, Jones the Grocer at London Heathrow, will be a buzzing hub for foodies at one of Europe's and the world's busiest airports.

Jones the Grocer Express, located immediately in front of Jones the Grocer, is aimed at the hurried traveller looking for good quick-serve artisan food. This venue will offer pastries, pies, sandwiches, wraps, soups and freshly tossed salads. Expert baristas will pour fantastic flat whites along with smoothies, leaf teas, and a selection of hot and cold drinks. Travellers will have the opportunity to savour artisan cheese toasties and shop from a selection of Jones the Grocer's grab and go retail.

This Heathrow opening marks a strategic phase in Jones the Grocer's expansion and is a testament to the vibrant and globally relevant trend-setting food scene in Dubai and the UAE. It is also a testament to TRG's pioneering recognition of emerging, dynamic brands quietly shaping the food and beverage scene around the world.

"Winning this award demonstrates TRG's commitment, passion, and belief in Jones the Grocer as a world-class brand, as well as their desire to bring the best in food retail to the UK airport travel space. This will be Jones the Grocer's largest airport store in the world and the first in the United Kingdom. My team and I look forward to bringing a stunningly designed Jones the Grocer serving fantastic food at London Heathrow," said Yunib Siddiqui, CEO of Jones the Grocer.

"We are delighted to have won this large concessions award in partnership with Jones the Grocer, an excellent brand bringing a vast range of quality food options to passengers at Heathrow airport. Our agreement with Jones the Grocer is testament to our team's ability to identify exciting brands worldwide and introduce new concepts to the travelling public," commented Mark Chambers, CEO of Leisure and Concession at The Restaurant Group.

"As Heathrow continues to welcome back more passengers, I am delighted that Jones the Grocer will be joining us in Terminal 2 early next year. Jones the Grocer, with its international footprint, will bring the tastes of the world to the airport, a fitting way for passengers to start their journeys from Heathrow," Fraser Brown, Heathrow's Retail Director, added.

Jones the Grocer and TRG are exploring a number of expansion opportunities across airports in the United Kingdom. Concurrently, Jones the Grocer also has ambitions to expand its network to airports in France, Germany and the United States.

Headquartered in Dubai, Jones the Grocer has 32 locations worldwide with 6 awarded and trading locations at Dubai, Doha, and Bangalore International airports. A further pipeline of 15 stores are in various stages of development showcasing the brand's steady regional and global expansion.

-ENDS-

About Jones the Grocer

Established 25 years ago, in 1996 in Australia, Jones the Grocer has 32 stores across the Middle East, Africa, and India. Jones the Grocer is a food emporium featuring speciality food retail, a signature walk-in cheese room, a charcuterie, bakery, patisserie and deli set within an award-winning café.

United Arab Emirates | Qatar | Egypt | India | Saudi Arabia & United Kingdom (coming soon)

About TRG Concessions

27 years of experience providing exceptional hospitality to the travelling public. Our brand portfolio includes casual dining, counter service, coffee shops, pubs and bars. We deliver existing TRG brands, create bespoke concepts and establish partnerships to franchise third-party brands. Our record of innovation, partnership, and performance ahead of sector growth has made us a market leader in this sector.

www.trgconcessions.co.uk.

.

(C) 2022 M2 COMMUNICATIONS, source M2 PressWIRE

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Financials
Sales 2022 855 M 1 035 M 1 035 M
Net income 2022 24,1 M 29,1 M 29,1 M
Net Debt 2022 605 M 732 M 732 M
P/E ratio 2022 22,0x
Yield 2022 -
Capitalization 281 M 340 M 340 M
EV / Sales 2022 1,04x
EV / Sales 2023 0,96x
Nbr of Employees 16 000
Free-Float 99,4%
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Mean consensus BUY
Number of Analysts 14
Last Close Price 36,70 GBX
Average target price 54,46 GBX
Spread / Average Target 48,4%
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Managers and Directors
Andrew Hedley Hornby Chief Executive Officer & Director
Kirk Dyson Davis Chief Financial Officer & Director
Kenneth George Hanna Independent Non-Executive Chairman
Graham Colin Clemett Senior Independent Non-Executive Director
ZoŰ Jeanette Morgan Independent Non-Executive Director
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