Brian Moore

Brian Moore, Dentons’ Edinburgh-based divisional head of corporate, who led the team that advised on the deal, said buyers with the necessary cash were eyeing opportunities in the UK and Europe.

Mr Moore, who is a respected expert on food and drink deals, having advised clients including Macallan-owner Edrington, First Milk and Nc’nean Distillery, said: “Even when their spending is being squeezed by rising inflation, consumers are still loyal to their favourite brands, especially when it comes to treating themselves to a meal out.

“Our expertise in working with branded hospitality portfolio owners means that we know there are other deals out there just waiting to be done.

“There’s definitely a strong appetite among portfolio owners to buy more hospitality brands.

“Our experience in the food and drink sector and with brand protection helped us to complete this transaction swiftly, getting the best deal for TRG.”

Dentons was the sole adviser to TRG on the deal, with Mr Moore being joined by his fellow partner Lorna McCaa from the UK tax team, along with colleagues Diana Mennie, a senior associate in its Edinburgh office, and Charlotte White, an associate in its Glasgow branch.

They were supported by tax consultant John Finnick, real estate partner Brian Hutcheson, real estate associate Graham Ronald and intellectual property partner Ross Nicol.