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Friday 31st October 2014
Friday Opinion
Subjects: US influences, the tenanted pub company statutory code and service recovery
Authors: Russell Margerisson, Peter Holden and Ann Elliott

Big in the United States, big in the United Kingdom … view

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Friday 31st October 2014
Propel Friday News Briefing
Ponti’s reduces operating losses, looks to raise equity: Ponti’s Retail, operator of the Ponti’s Italian Kitchen and Caffe Italia chains, and controlled and led by Stefano Ispani, has reported a pre-tax loss of £2.31m in the year … view
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Thursday 30th October 2014
Prezzo agrees deadline extension for bid
Prezzo agrees deadline extension for private equity offer: Italian restaurant company Prezzo, led by Jonathan Kaye, has agreed an extension to the deadline for an offer from private equity companies Advent Capital and TPG Capital. The company … view
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Thursday 30th October 2014
Spirit agrees extension to Greene King offer deadline
Spirit agrees extension to Greene King offer deadline: Spirit Pub Company has reported this morning that it remains in discussions with Greene King over a provisionally agreed bid for the company by the Suffolk-based brewer and retailer. An ex … view
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Thursday 30th October 2014
Propel Thursday News Briefing
Coffee roasters plan chain of 20 cafes: A firm of coffee roasters which supplies outlets from Tesco to farm shops is planning a chain of 20 cafes across the country. Paddy & Scott's, which employs 200 people at its base, the Bean Barn in Earl … view
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Wednesday 29th October 2014
Las Iguanas reports turnover and profit rise
Las Iguanas reports turnover and profit rise: Latin American food brand Las Iguanas, led by Eren Ali and backed by private equity firm Bowmark Capital, has reported that turnover rose to £48,362,713 in the 52 weeks to 29 March 2014, up from … view
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Wednesday 29th October 2014
Inventive appoints Spirit's Beth McDonald as marketing director
Inventive appoints Spirit's Beth McDonald as marketing director: New Inventive Bar Company, owner of the Revolution and Revolucion de Cuba bar chains, has appointed Spirit Pub Company's Beth McDonald as its new director of marketing and commun … view
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Wednesday 29th October 2014
C&C Group report H1 profit and updates on Spirit
C&C Group report H1 profit and updates on Spirit: Magners producer C&C Group has reported turnover up 9.3% to €368.1 million in the six months to 31 August. Operating profit down 2.7% to €69.2 million. Chief executive Stephen Glancey has a … view
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Wednesday 29th October 2014
Propel Wednesday News Briefing
Sam Smith’s raises prices in Scotland to match London: Sam Smith’s, the Tadcaster-based family brewer and retailer, which operates around 200 pubs but shuns publicity, has broken with tradition by raising prices in Scotland. The company ha … view
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Tuesday 28th October 2014
Senior analyst increases JDW share price target
Senior analyst increases JDW share price target: Numis Securities leisure analyst Douglas Jack has increased his price target for JD Wetherspoon (JDW) shares to 950p from 900p, forecasting 47% earnings growth in the next three years. JDW’s f … view
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Tuesday 28th October 2014
Propel Tuesday News Briefing
Enterprise Inns makes rapid progress with managed division: The new Enterprise Inns managed estate is set to grow to 14 pubs by the end of next week, quicker growth than original indications that suggested the company would have ten managed si … view
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Monday 27th October 2014
Canada-based global coffee company to make UK debut
Award-winning Canadian coffee franchise debuts in Manchester: An award-winning Canadian coffee franchise, Second Cup, is making its UK debut in Manchester’s Arndale centre tomorrow (28 October). The franchise, known for selling Fairtrad … view
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Monday 27th October 2014
Propel Monday News Briefing
3Sixty Restaurants reports £200,000 sales dip after sale of Mayfair restaurant: 3Sixty Restaurants, the operator of Ego Restaurants and four Rocket sites, which is backed by Luke Johnson and led by James Horler, has reported a £200,000 … view
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Friday 24th October 2014
Spirit, Cozy Pubs, Jamie Oliver and SA Brain
Analyst – Spirit shareholders should sit tight after C&C Group entered the fray: Peel Hunt leisure analyst Nick Batram has argued that Spirit shareholders should sit tight after the bid process livened up with C&C Group entering the fra … view
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Friday 24th October 2014
Friday Opinion
Subjects: Spirit Pub Company, lies deflated and re-inflated, labour recruitment and allergen regulations
Authors: Paul Charity, Paul Chase, Sam Grocott and David McHattie
 

Spirit is the company that … view

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Friday 24th October 2014
C&C Group provides strategy behind Spirit bid
C&C Group provides strategy behind Spirit bid: Magners producer C&C Group has this morning offered the reasons why it has launched a bid to buy Spirit Pub Company. Last night, Spirit reported that it had turned down an approach from C&C Group, … view
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Friday 24th October 2014
Propel Friday News Briefing
Former Orchid Group boss Rufus Hall advises on Singha debut in the UK market: Fine Food Capital (FFC), a wholly-owned subsidiary of the Singha Corporation, has bought the Oriental Restaurant Group (ORG) – a collection of upscale Thai an … view
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Thursday 23rd October 2014
Spirit rejects C&C Group approach
Spirit rejects C&C Group approach: Spirit Pub Company has confirmed that it has received a preliminary approach from drinks company C&C Group but reviewed the proposal and rejected it. Media reports suggested an offer of 115p a share was … view
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Thursday 23rd October 2014
Horizons – 26% of operators report ‘large’ increase in food sales
Horizons – 26% of operators report ‘large’ increase in food sales: Business confidence continues to grow in the UK’s foodservice sector as over two-thirds of operator’s report an increase in food sales year-on-year, with 26% reportin … view
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Thursday 23rd October 2014
Fuller’s opens first coffee shop
Fuller’s opens The Fields coffee shop: Fuller’s has opened its first stand-alone coffee shop, The Fields, in Ealing this morning. Earlier this year, Fuller’s chief executive Simon Emeny told Propel that coffee sales at the company have n … view
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Thursday 23rd October 2014
Tesco LfLs drop 4.6%, confirms £263m profit overstatement
Tesco LfLs drop 4.6%, confirms £263m profit overstatement: Tesco has reported that UK like-for-like sales dropped 4.6% in the 26 weeks to 23 August. The company also confirmed a £263m overstatement of profit, with chairman Sir Richard Broadb … view
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Thursday 23rd October 2014
Propel Thursday News Briefing
Lack of transparency distorting rental market, Fleurets warns: A lack of transparency over some of the incentives included in new lettings has the potential to distort the market, the property agent Fleurets has warned in its latest Rental Sur … view
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Wednesday 22nd October 2014
Restaurant customers reveal how much they hate waiting
Restaurant customers reveal how much they hate waiting: Restaurant customers hate waiting around, either for their order to be taken, their food to arrive or their bill to be brought, new research by CGA Peach and Zonal Retail Data Systems has … view
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Wednesday 22nd October 2014
Papa John’s UK reports profit rise and extra 34 sites
Papa John’s UK reports profit rise and extra 34 sites: Papa John’s has reported that its UK business grew by 34 stores to hit 246 sites in 2013. A further 11 sites had been added by the end of July this year. Its turnover grew by 15.2% to … view
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Wednesday 22nd October 2014
Spirit sets out potential of independent future
Spirit sets out potential of independent future: Spirit Pub Company chief executive Mike Tye has set out how an independent Spirit Pub Company will expand its managed estate to its potential of 1200 pubs from the current 774 sites. The company … view
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Wednesday 22nd October 2014
Spirit reports like-for-likes up 4.4% and PBT of £110m
Spirit reports like-for-likes up 4.4% and PBT of £110m: Spirit Pub Company has reported its managed division saw like-for-like sales rise by 4.4% in the 53 weeks until 23 August (the previous financial year had 52 weeks). Ebitda was £14 … view
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Wednesday 22nd October 2014
Propel Wednesday News Briefing
Greene King Leisure Spend Tracker finds eating-out beats September dip in general leisure spend: A fall in consumer confidence is likely to be responsible for British households spending 6% less on leisure during September, the latest Greene K … view
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Tuesday 21st October 2014
Ten minutes on Tuesday with Mark Morris
Elliotts marketing and insights director James Hacon interviews Mark Morris, founder of the chef-focused website The Staff Canteen, on chefs, social media and recruitment.

view
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Tuesday 21st October 2014
McDonald’s to 'change fundamentally' after 3.3% lfl decline
McDonald’s to 'change fundamentally' after 3.3% lfl decline: McDonald's has reported global like-for-likes down 3.3% across its 34,000 restaurants in its third quarter to September 30, 2014. The company’s European division saw like-for-lik … view
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Tuesday 21st October 2014
Whitbread reports group like-for-likes up 7% in Half Year
Whitbread reports group like-for-likes up 7% in Half Year: Whitbread has reported that group like-for-like sales grew by 7% in the six months to 28 August. Total revenue was up 13.0% to £1,293.2 million (2013/14: £1,144.7 million). Underlyin … view
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Tuesday 21st October 2014
Propel Tuesday News Briefing
Greene King bid for Spirit set to create UK’s largest operator by sales: Greene King looks set to create the UK’s largest pub company by sales after Spirit indicated its willingness to recommend an improved 109.5p offer, including 8p … view
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Monday 20th October 2014
Spirit board gives Greene King revised offer its conditional backing
Spirit board gives Greene King revised offer its conditional backing: Spirit has told the market that it has given a revised Greene King offer a conditional green light. The revised proposal comprises 0.1322 Greene King shares per Spirit … view
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Monday 20th October 2014
Propel Monday News Briefing
Michelin-starred Tom Sellers to open first pub restaurant at Chris Evans's Lickfold Inn: The chef Tom Sellers, whose Restaurant Story in Bermondsey, South London won its first Michelin star just five months after it opened, has taken over the … view
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Friday 17th October 2014
TIAA Henderson buys Spirit portfolio for £54m
TIAA Henderson buys Spirit portfolio for £54m: TIAA Henderson Real Estate has bought a portfolio of eight pub freeholds in Central and West London, all let to Spirit Pub Company, from Cerberus Capital Management for £54m, or an average of £ … view
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Friday 17th October 2014
Drake & Morgan makes Dylan Murray of Soho House its ops director
Drake & Morgan names Dylan Murray of Soho House as ops director: Drake & Morgan, which currently runs seven large-scale bars and restaurants in London, has named Dylan Murray, the UK director of operation at Soho House Group UK, as its own new … view
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Friday 17th October 2014
Friday Opinion
Subjects: Benchmarking the industry, better burger and touring London
 
Authors: Kate Nicholls, Martyn Cornell and Ann Elliott

 

What benchmarking the industry tells us by Kate Nicholls

 Last week the ALMR published the … view
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Friday 17th October 2014
Propel Friday News Briefing

Story of the Day:

Intertain chief executive stresses Jongleurs non-payment issue not related to his … view

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Friday 17th October 2014
Young’s acquires 580 Ltd for £10.4m
Young’s acquires four-strong 580 Ltd for £10.4m: The London pub retailer Young & Co has acquired the entire issued share capital of 580 Limited, which owns and operates four pubs in prime London locations, for a total of £10.4m on a debt f … view
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Thursday 16th October 2014
Propel Thursday News Briefing
Coffer Peach – pub and restaurant like-for-likes rose 2.2% in September: Restaurant and pub groups enjoyed the benefits of September’s Indian summer sun, with collective like-for-like sales up 2.2% on the same month last year, according to … view
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Wednesday 15th October 2014
Caffe Nero reports rise in sales and ebitda
Caffe Nero reports rise in sales and ebitda: The coffee shop operator Caffe Nero Group has reported turnover growth of 8.8% to £222.4m in the year to 31 May 2014, with like-for-like sales up 2.7%. The company opened 36 stores and closed five, … view
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Wednesday 15th October 2014
Propel Wednesday News Briefing
Intertain flies the flag for sector by winning three awards at Benefits Excellence: Walkabout operator Intertain picked up three of the 14 awards at the Benefits Excellence Awards, holding off competition from several well-known brands, includ … view
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Tuesday 14th October 2014
Breaking New - Tragus boosts management team
Tragus boosts management team in re-organisation: Strada managing director James Spragg, who oversaw the Italian chain's recent sale by Tragus to Sun Capital Partners, is returning to his previous employer to be the new MD of Cafe Rouge. The F … view
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Tuesday 14th October 2014
Breaking News: Apostrophe losses climb, Eden launches mini-bond
Apostrophe reports increased losses: Apostrophe, the London-based operator of deli cafes founded by Amir Chen but now owned by CH&Co, has reported losses of  £666,000 in the year to 31 March 2014 after opening three new sites, one of which h … view
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Tuesday 14th October 2014
Propel Tuesday News Briefing
American dishes overtake British in UK dining-out popularity: American-style dishes have overtaken British-based ones in the UK eating-out sector, figures from the foodservice consultancy Horizons have revealed. British and Italian dishes regu … view
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Monday 13th October 2014
Breaking News - Opinion Special: Tim Martin criticises corporate governance

The ruinous absurdity of corporate governance by Tim Martin

Woof, woof! What's that at the boardroom door? Why, it's the dog that hasn't barked – until now. This corporate governance dog has surreptitiously devoured our major banks and pub … view
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Monday 13th October 2014
Propel Monday News Briefing
Faucet Inn boss to launch new concept Kupp in three countries: Faucet Inn's chief executive Steve Cox has "soft-circled" just under £2m in an over-subscribed EIS scheme to launch his stand-alone Scandinavian-influenced cafe brand Kupp in thre … view
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Monday 13th October 2014
Loungers secures nearly all sites planned for 2015
Loungers secures nearly all 20 sites planned for 2015: Loungers has secured almost all the 20 sites it plans to open in 2015 and has also secured a number of sites for planned openings in 2016. Among the sites secured for the 2015 pipeline are … view
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Friday 10th October 2014
Results - Soho House, Black Sheep, D&D
Soho House pushes UK turnover up 12.3%: Soho House, which operates members' clubs, restaurants and hotels in London, Berlin, New York, Los Angeles and Toronto, has reported a rise in UK turnover for the period ending 29 December of 12.3% over … view
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Friday 10th October 2014
Former Yates's boss to head Grosvenor Casinos
Former Yates’s boss to head Grosvenor Casinos: Mark Jones, former head of the Yates Group and currently managing director of Mecca Bingo, has been appointed managing director of another wing of the Rank Group, Grosvenor Casinos. Jones joined … view
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Friday 10th October 2014
Friday Opinion
Subject: Mass medication of the middle classes, the little-known big managed operator and the state of British street food
Authors: Paul Chase, Martyn Cornell and Richard Johnson
 

The mass medication … view

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Friday 10th October 2014
Propel Friday News Briefing
CGA Strategy – cocktail sales rise by 10% over two years: Cocktail sales have grown by more than 10% over the last two years—and the mojito is the drinkers’ favourite. Those are among the insights in The Mixed Drinks Report 2014, a … view
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Thursday 9th October 2014
Results: Tokyo Group, CG Restaurants and Modern British Canteen
Aaron Mellor takes sole control at Tokyo Group: Nightclub operator Tokyo Group has revealed that Aaron Mellor has taken sole control of the company, refinanced the company’s debt, with a new facility that has substantially reduced annua … view
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Thursday 9th October 2014
Hakkasan reports reduced losses
Hakkasan reports reduced losses: Hakkasan reduced its pro rata losses to $14.1m in the seven months to 31 December 2013 from $50.1m the full year to 31 May 2013 – the company has also begun reporting figures in dollars to reflect its growing … view
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Thursday 9th October 2014
Ex-Red Hot World Buffet executives to launch rival chain
Ex-Red Hot World Buffet executives to launch rival chain: Two brothers, who held senior management positions at Red Hot World Buffet, have selected Cardiff as the launch location for their brand new chain of restaurants in an investment worth … view
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Thursday 9th October 2014
Propel Thursday News Briefing
Mitchells & Butlers to end Toby Express trial: Mitchells & Butlers is to end its Toby Express trial, which involved opening two sites offering the key elements of its Toby Carvery brand in a grab-and-go format. The company opened its firs … view
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Wednesday 8th October 2014
Results: Hard Rock UK and Chipotle UK
Hard Rock Café reports profit dip: Hard Rock Café UK has reported turnover rose to £20,701,000 in the year to 31 December 2013, a rise from £20,078,000 the year before. Pre-tax profit was £4,803,000, down from £5,020,000 the year be … view
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Wednesday 8th October 2014
Salisbury Pubs sells two sites to Little Gems
Salisbury Pubs sells two sites to Little Gems: Award-winning Salisbury Pubs, led by David and Becky Salisbury, has announced the sale of two of its leasehold sites to Little Gems Country Dining, a business led by industry veteran Steve Wi … view
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Wednesday 8th October 2014
Tesco adds Compass boss to board
Tesco adds Compass boss to board: Tesco has responded to criticism of the lack of retail experience on its board by hiring Compass chief executive Richard Cousins as a non-executive director, starting on 1 November. Tesco has also hired M … view
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Wednesday 8th October 2014
Marston’s reports sound progress
Marston’s reports sound progress: Brewer and retailer Marston’s has released a year-end trading update for the 52 weeks to 4 October in which it has reported “sound progress” and forecast “underlying operating profit broadly in … view
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Wednesday 8th October 2014
Propel Wednesday News Briefing
Street food venue Trinity Kitchen at Trinity Leeds welcomes 1.3m visitors: Trinity Kitchen at the Trinity Leeds shopping centre, which celebrates its first birthday on 17 October, has welcomed 1.3 million people through its doors since op … view
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Tuesday 7th October 2014
Adnams promotes woman who began as cleaner to the board
Adnams promotes woman who began as cleaner to the board: Suffolk-based brewer and distiller Adnams has promoted Karen Hester to its main board as an executive director. Her appointment will take effect from the Adnams AGM in April 2015. S … view
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Tuesday 7th October 2014
Propel Tuesday News Briefing
SABMiller – ‘we need to follow the lead of the coffee market’: Global brewer SABMiller has told investors it plans to follow the lead of coffee to build a position for beer outside its traditional role as the favourite drink for men … view
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Monday 6th October 2014
Friska to open ten more sites after £1.25m investment
Friska to open ten more sites after £1.25m investment: Bristol-based healthy fast food chain Friska has secured £1.25 million of investment to open ten new sites in Bristol, Birmingham and Manchester. The money, which has been raised through … view
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Monday 6th October 2014
Luminar hires Thorndycraft as operations director
Luminar hires Thorndycraft as operations director: The UK’s largest nightclub operator, The Luminar Group, has appointed Jason Thorndycraft as its new operations director, with effect from today (Monday 6 October). Reporting directly to … view
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Monday 6th October 2014
Propel Monday News Briefing
Ed’s Easy Diner secures increased facility from NatWest to fund roll-out to 50 restaurants: Ed’s Easy Diner, operator of 31 themed 1950’s American diners, has secured a £9.5m increase to its existing bank facilities. This new fundi … view
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Saturday 4th October 2014
Results: G1 Group, Spudulike, Heineken UK, Wellington
G1 Group reports turnover and profit up, major acquisition: G1 Group, Scotland’s largest independent managed operator, which is led and controlled by Stefan King, has reported pre-tax profit of  £11.21m in the year to 31 March 2014, up 3% … view
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Friday 3rd October 2014
Everards to partner Next in retail development
Everards to partner Next in retail development: The Leicester-based brewer and pub retailer Everards has joined forces with Next, the UK’s largest clothes retailer, to turn the Everards brewery site into a retail development. The development … view
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Friday 3rd October 2014
Friday Opinion
Subjects: The customer known unknowns, cask ale insights and arguing with a blockhead
Authors: David Martin, Martyn Cornell and Paul Chase
 

Into the Unknown by David Martin

The best-known quo … view
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Friday 3rd October 2014
Douglas Jack - Prezzo approach may flush out higher bids
Douglas Jack - Prezzo approach may flush out higher bids: Numis Securities leisure analyst Douglas Jack has argued that the preliminary approach to buy Prezzo by private equity companies Advent International and TPG Capital may flush out a hig … view
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Friday 3rd October 2014
Propel Friday News Briefing
TGI Friday’s UK sale process kicks off: The American buyout firms Sentinel Capital and TriArtisan Partners have begun the sale of TGI Friday’s UK business, according to Financial News. Rothschild has been chosen to sell the restaurant chai … view
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Thursday 2nd October 2014
Prezzo confirms £300m private equity approach
Prezzo confirms £300m private equity approach: Restaurant company Prezzo, led by Jonathan Kaye, has confirmed it has received preliminary proposals from private equity companies Advent International and TPG Capital in relation to a possible o … view
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Thursday 2nd October 2014
Hydes reports sharp rise in profits after restructuring
Hydes reports sharp rise in profits after restructuring: North west brewer and retailer Hydes has reported pre-tax profits rose to £1,612,700 in the year to 30 March, up from £1,068,722 the year before which saw a major restructuring that in … view
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Thursday 2nd October 2014
Domino’s UK reports 12.9% like-for-like growth
Domino’s UK reports 12.9% like-for-like growth: Domino’s UK has reported 12.9% like-for-like sales growth in its Third Quarter, the 13 weeks to 28 September. System sales grew to £165.7m. The Republic of Ireland saw 5.3% like-for-like sal … view
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Thursday 2nd October 2014
Propel Thursday News Briefing
Baa Bar introduces ‘science lab’ theme to flagship venues: Baa Bar, the eight-venue Liverpool-based company has spent £800,000 fitting out its flagship outlets in Manchester, Liverpool and Nottingham with a new “science lab” them … view
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Wednesday 1st October 2014
Results: Hawksmoor and Vapiano reports profit leap
Hawksmoor operator reports profit leap: Hawksmoor operator Underdog Restaurants has reported turnover rose to £25,566,000 in 2013, up from £18,070,000 the year before. Pre-tax profit climbed to £3,715,000, up from £1,346,000 the year … view
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Wednesday 1st October 2014
Greene King hires JDW finance director
Greene King hires JDW finance director: Greene King has hired JD Wetherspoon’s finance director as its new chief financial officer. Matthew Fearn, Greene King’s chief financial officer, has been absent from work since February with a … view
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Wednesday 1st October 2014
Propel Wednesday News Briefing
Bubba Gump opens in London today: Bubba Gump Shrimp Co, the American seafood chain that takes its inspiration from the film Forrest Gump, opens today (Wednesday) at 11am in the Trocadero in Piccadilly, central London. The 400-cover resta … view
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