One of the Gloucester Quays' popular stable of restaurants, which also has a business in Cheltenham, has been sold.

The Restaurant Group has been revealed as the new owners of the Asian-themed Wagamama chain, which for the purposes of the deal was valued at £559 million.

According to the group Wagamama - which opened in the Quays last month (September) - has "consistently and significantly outperformed its core UK market".

The Restaurant Group already has significant investments in Gloucester and Cheltenham as owner of Frankie & Benny (St Oswalds Retail Park and The Brewery) and Chiquito restaurant (also at The Brewery).

Behind the takeover are apparently plans to expand the chain still further, which seems to be benefitting from a trend towards heathier eating.

Wagamama now has 196 restaurants, either directly operated or franchised. An estimated two thirds of these are in the UK.

Former chairman of Royal Mail and chief executive of supermarket chain Asda, Allan Leighton, has been the chairman of the UK pan-Asian themed chain and will now join the board of TRG.

Wagamama was owned by private equity firms Duke Street and Hutton Collins.

Its name was apparently inspired by a story by Toby Litt called After Wagamama but Mostly Before.