Propel Newsletter Archive Page

AG Barr acquires Fentimans and Frobishers for combined £51m: Drinks firm AG Barr has acquired soft drinks brands Fentimans for £38m and Frobishers for £13m. AG Barr stated: “Both brands operate in the attractive adult soft drinks market, which is benefiting from the consumer trend of reduced alcohol consumption. These acquisitions reflect the execution of further meaningful and targeted M&A to elevate growth through broadening the brand portfolio while providing opportunities for cost synergies.” It comes as AG Barr, whose brands also include Funkin’ and Irn-Bru, reported full-year revenue growth of circa 4% to £437m (2024: £420m). Adjusted operating margin of circa14.7% (2024:13.6%), an increase of circa 110 basis points, is expected to contribute to double-digit profit growth. AG Barr said this is driven by benefits from ongoing efficiency initiatives and supply chain investment. The company stated: “During the year the company outlined its key strategic drivers, including brand innovation pipeline development, channel expansion initiatives and investment in operational capabilities. Good progress has been made in these areas and FY26-27 is expected to be a year of building momentum.” Chief executive Euan Sutherland said: “We are pleased to report a strong year that highlights delivery of our strategic priorities. Our top and bottom line performance for FY25-26 is in line with expectations, and importantly we have laid strong foundations for future growth. We enter FY26-27 with good momentum in our core brands and from the introduction of exciting new products. In-line with our strategy of enhancing our organic growth with M&A, we are delighted to announce the acquisitions of Fentimans and Frobishers. The synergies associated with these acquisitions are expected to drive meaningful accretion over the medium term. Underpinning all our activity is our consistent focus on efficiency, margin and growing shareholder returns.”

Premium Club subscribers to receive new searchable and segmented New Openings Database on Friday, all 49 videos from Restaurant Marketer and Innovator on Friday, 13 February: The next Propel New Openings Database will be sent to Premium Club subscribers on Friday (6 February). The database will show the details of 239 site openings, including which company has opened a site or its plans to open one in the future. The database will have details on what type of site it is and its location, and there will also be a website link to the businesses. The database is published on a monthly basis and Premium Club members will also receive a 15,179-word report on the 239 new additions to the database. It is segmented into seven categories – cafe bakery, casual dining, experiential leisure, fine dining, hotels, pubs and bars, and quick service restaurants (QSR) – making it even easier for users to search. The database includes new openings in the QSR sector such as fried chicken operator Miss Millie’s with an opening in Colchester, flame-grilled piri piri chicken brand Pepe’s Piri Piri launching in Bolton, and SushiDog making its regional debut in Birmingham. Premium Club subscribers also receive access to five other databases: the Turnover & Profits Blue Book, the Multi-Site Database, the UK Food and Beverage Franchisor Database, the UK Food and Beverage Franchisee Database and the Who’s Who of UK Hospitality. All Premium Club subscribers will be offered a 20% discount on tickets to Propel paid-for events and discounts on specialist sector reports. Operators that are Premium Club subscribers are also able to send up to four members of staff to each of our four Multi-Club Conferences for free. Premium Club subscribers receive their daily Propel Info newsletter 11 hours earlier than standard subscribers, at 7pm the evening before. They also receive videos of presentations at eight Propel conference events two weeks after they are held. This represents around 100 videos of industry insight over the course of the year. Premium Club subscribers also receive exclusive opinion columns every Friday at 5pm, which include the thoughts of Propel chief operating officer – editorial, Mark Wingett, and a host of industry leaders from across the sector. A Premium Club subscription costs an annual sum of £495 plus VAT for operators and £595 plus VAT for suppliers. Companies can now have an unlimited number of people receive access to Premium Club for a year for £995 plus VAT – whether they are an operator or supplier. Email kai.kirkman@propelinfo.com today to sign up.

Heron & Brearley names Ollie Neake as new MD of Okell’s Inns: Isle of Man operator Heron & Brearley has named Ollie Neale as managing director for its pub business Okell’s Inns. Neale has been with Heron & Brearley since 2012, and been managing director for its wholesale arm and for Okell’s Brewery for the past six years. The company said Neale’s move to managing director of its pubs division sees Okell’s brewing, wholesaling and now 35 pubs come together for the “next exciting chapter of growth”. Okell’s, which has just celebrated its 175th anniversary, is based in the Isle of Man with pubs on the island along with further sites in Liverpool and Yorkshire. The business is currently rolling out a managed operator model for its smaller pubs whilst embarking on a major capex plan for its larger Heritage pubs, which will see further bedrooms complemented by a more premium food and drink offer. Mark Crowther, Heron & Brearley chairman, said: “I am delighted to see Ollie taking a wider remit to include our predominantly freehold pubs business. This is an exciting year for the company as we start to deliver on the new five-year strategy.” Neale said: “It’s an exciting time to be bringing the pubs business back together with the brewing and brands of Okell’s, I am really proud to be leading the combined business going forward.” Propel reported earlier this week that Stephen Taylor had stepped down as managing director of Okell’s Inns. Taylor spent four years leading Okell’s Inns and 20 years with Heron & Brearley, including five and a half years as its estates director.

London restaurant and whisky bar operator Boisdale reports trading ‘softens’ after ‘strong’ full-year performance: London restaurant and whisky bar operator Boisdale has said trading has “softened” as it reported “strong” full-year performance. Turnover dipped to £10,989,950 for the year ending 30 April 2025 compared with £11,208,993 the previous year. The company, which operates venues in Belgravia and Canary Wharf, saw Ebitda fall to £480,000 from £631,000 the year before. Pre-tax profit was down to £260,717 from £320,049 the previous year. During the period, the group sold the leasehold of its Mayfair site, which shut in February 2023, for £1,692,482. Director Ranald MacDonald said: “The directors are pleased with the performance of both Belgravia and Canary Wharf, both maintaining high levels of turnover and profitability. Throughout the year, the group faced external challenges stemming from the cost-of-living crisis and the ongoing war in Ukraine, both of which contributed to inflationary pressures, wage increases, and higher energy costs. Current trading is consistent with industry-wide trends, showing a softening compared with the previous year’s strong performance. Despite this, the group maintains significant reserves. The group plans to focus on the improvement in the contribution of its existing restaurants.” No dividend was paid (2024: £80,000).