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Thu 7th Dec 2017 - Electra reveals additional £35m investment in TGI Friday’s, C&C completes Admiral minority stake
Electra reveals additional £35m investment in TGI Friday’s: Electra Partners, the private equity backer of TGI Friday’s, had reported it made an additional £35m investment in the restaurant company for the year ending 30 September 2017. Electra revealed the figure as part of its final year results where it said investment activity in the short term was likely to be focused on the existing portfolio because the board considered market conditions “were not conducive to significant numbers of attractive new investment opportunities”. Electra said it was carrying TGI Friday’s on its balance sheet and within its net asset value at £162m at the end of the period. 
C&C Group completes acquisition of minority stake in Admiral Taverns: Cider and beer maker C&C Group has completed its acquisition of a minority stake in Admiral Taverns. In addition, Admiral has confirmed it has completed on the acquisition of a portfolio of 17 pubs in England and Wales from Heineken’s Star Pubs & Bars business. C&C Group announced in September, in partnership with Proprium Capital Partners, it had agreed to acquire the entire issued share capital of Admiral in a deal worth circa £220m. The equity investment by C&C is £37m, representing 47% of the issued capital of Admiral. Admiral Taverns stated: “The board is pleased to confirm this transaction has now been completed, providing the group with a strong platform to support its ambitious growth plans. The Admiral management team led by chief executive Kevin Georgel remain invested and continue to lead the business, building on its proven growth strategy which has seen Admiral cement its reputation as a leading operator of community pubs across the UK.” Georgel added: “I am delighted to welcome onboard our new investors. This transaction positions our business for long term growth, ensuring we have the right platform in place to continue the significant progress we have made over the last five years and take advantage of the opportunities within our markets. On 1 November, we announced the acquisition of 17 pubs from Heineken, in partnership with G1 Group. This acquisition is early testament to our commitment to our growth strategy and with the sale of our own business now complete, we look forward to reviewing further appropriate opportunities as and when they arise.”

AG Barr appoints independent non-executive director: AG Barr, which produces IRN-BRU, Rubicon, Strathmore and Funkin, has appointed Susan Barratt as an independent non-executive director. Barratt will join the board with effect from 28 January 2018. AG Barr stated: “Susan is currently chief executive of Natures Way Foods, a UK manufacturer of convenience foods, a role she has successfully held for ten years. Following her BA in economics from Reading University Susan qualified as a chartered accountant and has spent much of her career in financial roles including senior finance roles in Whitbread, Laurel Pub Company and Eldridge Pope where she moved from finance director to chief executive.” AG Barr chairman John Nicolson added: “We look forward to welcoming Susan to our board in January. Susan brings a wealth of valuable experience in the UK customer space and will support the continued development of our board capabilities.”

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