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Morning Briefing for pub, restaurant and food wervice operators

Tue 24th Mar 2026 - Update: Various Eateries completes acquisition of premium pubs with rooms portfolio
Various Eateries completes acquisition of premium pubs with rooms portfolio: Various Eateries, the Coppa Club and Noci operator soon to be known as Coppa Collective, has completed the acquisition of a premium pubs with rooms portfolio from Grosvenor Pubs. Earlier this month, the business said it had exchanged on asset purchase agreements to acquire the portfolio for £11.25m and expected to complete the acquisition of four sites later in March, with a further agreement in place to potentially acquire a fifth site. On completion, the acquired sites would form a third operating brand, The Linwood Collection. It has now completed the acquisition of three of the four sites – Wild Thyme & Honey (Cotswolds), The Hare & Hounds (Berkshire) and The Stag on the River (Surrey). Completion of The Wellington Arms (Hampshire) remains subject to landlord consent in connection with the lease assignment process. The three acquired sites will continue to trade under their existing names and identities. Various Eateries said the acquisition “broadens the group’s hospitality platform into the premium pubs with rooms segment through a collection of high-quality, well-invested assets that the board believes are strongly aligned with its operating model and long-term growth strategy”. As previously reported, the group has also agreed terms to potentially acquire The Queen's Head (Surrey). That site remains subject to the ongoing asset of community value process and cannot exchange until the relevant statutory notification and moratorium period has expired. The group also said it is still in the process of changing its name to Coppa Collective and will “provide a further update once that process is complete”. Chief executive Mark Loughborough said: “This acquisition marks an important step in the evolution of the group. The Linwood Collection is a natural extension of our hospitality platform, adding a collection of destination venues with strong reputations and significant long-term potential. We look forward to welcoming the teams into the group and to building on the character and appeal of each site.” Loughborough, told Propel earlier this month the group is “not looking to become the next pubco”, and that its expansion focus is on its Coppa Club concept. As previously reported, the four sites to be acquired generated aggregate revenue of approximately £10.5m in the 52 weeks ended 28 December 2025, with site-level Ebitda of approximately £1.5m. Last month, Various Eateries reported that revenue grew 6% to £52.4m for the year ending 28 September 2025 (2024: £49.5m). Group like-for-like sales growth of 2% (2024: down 1.0%) was led by Coppa Club (up 3%), with second half group like-for-like growth of 4%. The group also posted record adjusted Ebitda of £1.4m (2024: £0.3m).

500 attendees registered for new look Propel Multi-Club Conference tomorrow: Tomorrow (Wednesday, 25 March) is the first Propel Multi-Club Conference of 2026 (click here for schedule). A record 500 attendees are expected at the new bigger venue of Park Plaza Victoria London. The event will also see the launch of multiple Parallel Sessions where attendees can deep-dive into particular subjects (click here for Parallel Sessions). Lastly, Airship is sponsoring a post-conference drink at Brother Marcus in Victoria, where Propel chief operating officer – editorial, Mark Wingett, will conduct an interview on site with Brother Marcus co-founder Tas Gaitonos. Propel managing director Paul Charity said: “Our Multi-Club Conferences are the best-attended conference series in the sector. This year, alongside a bigger venue, we are showcasing even more content. These events are a great opportunity for operators to learn, network with peers and meet key suppliers.”

Fevertree sees UK revenue drop 2%, with on-trade sales down 9%, despite improved second half performance: Fevertree, the supplier of premium carbonated mixers and Molson Coors, said its UK revenue dropped 2% in the year to 31 December 2025, with on-trade sales down 9%, despite a better second half performance. The company’s UK revenue was down from £111.1m in 2024 to £108.4m. Total adjusted group revenue was up 3% from £368.5m to £375.3m. The group also completed a £100m share buyback, funded by strong operating cash flow, working capital efficiencies and transaction proceeds from the Molson Coors share issue, while a further £30m share buyback is in progress. Chief executive Tim Warrilow said: “2025 has been a year of notable strategic progress. While the operating environment has remained challenging, we have continued to strengthen the foundations of the business, increase our market leadership position, broaden the relevance of the brand and position Fevertree for the next phase of growth. In the UK, revenue declined 2% on last year, with a much-improved second-half performance, offsetting the 6% decline in the first half. The off-trade delivered a robust performance with revenue growing 5% during H2, resulting in full-year growth of 2%. Particularly pleasing was the performance of our beyond tonic portfolio in this channel, which grew at 16% reflecting growing consumer awareness and adoption of the range, alongside continued expansion in distribution as Fevertree increasingly resonates with consumers as a premium soft drink brand beyond mixers. The wider UK on-trade environment remained challenging throughout 2025. Higher labour costs, duty increases and ongoing consumer caution continued to pressure discretionary spending, weighing on spirits volumes, particularly gin, and by extension the mixer category. While Fevertree is not immune from these dynamics, we remain the clear market leader by value across both channels. UK on-trade revenue declined 9% for the year, although the rate of decline eased in the second half. Across the wider UK business, our beyond tonic portfolio performed strongly, with revenue growing 6%, led by standout growth in Ginger Beer and Pink Grapefruit. Tonic revenue declined 6%, reflecting softer gin demand and continued on-trade pressure, while the broader portfolio continues to diversify the revenue base and expand the brand's relevance across more drinking occasions. As we enter 2026, Fevertree does so from a position of strength. We have a premium brand with unmatched credentials, an ever-growing market leadership position, upweighted marketing plans, a broader and more relevant portfolio, and scalable platforms in place across our priority markets. Notwithstanding the current uncertain geopolitical outlook, our expectations for 2026 remain unchanged and in line with market expectations.”
 
Chippies blame weight loss jabs and tighter household budgets for falling demand: Fish and chip shop owners say weight loss jabs and tighter household budgets are to blame for falling demand. Andrew Crook, president of the National Federation of Fish Friers, said sales of chips at his counter in Euxton, Lancashire, are down a third compared with figures before the pandemic, and other chippies are experiencing similar declines. He blamed tighter household budgets and a growing appetite for smaller portions, partly linked to the rise of weight-loss drugs. “People started ordering fewer portions when the cost of living grew following the energy crisis,” he said. “Chip portions are generally pretty generous, so customers are now sharing a portion between two or three people. It’s a way of trying to keep costs down, even if they are ordering the same amount of fish. But another factor is that lots of people are now taking weight-loss drugs. That is definitely playing a part, and chippies have to change because people want to consume less.” Crook is urging the industry to adapt by offering “light bites and smaller portions”. He said: “The lunchtime trade would definitely benefit from that as people want to eat less. They don’t want to eat so much that they fall asleep in the afternoon.” About 36 million fewer portions of fish and chips were sold in 2024 compared with the previous year, according to evidence given to parliament. Industry estimates suggest there are about 10,000 specialist fish and chip shops in the UK, but rising energy bills, higher fish prices and labour shortages have combined to put the industry under threat. Trade bodies warn that as many as half of shops could be at risk of closure if conditions do not improve. Crook added: “Fish and chips is still popular, particularly at the weekend. We had a record Saturday night the other night.”
 
Six in ten youngsters opt for a night in on the sofa rather than the town: Almost two-thirds of young adults are swapping shots for their sofas, according to new research from Lamb Weston, with only those aged over 65 are bucking the trend. Just 57% of pensioners said they prefer to stay at home, compared with more than 60% across every other age bracket. And among those aged 18 to 24, this rose to 64%. Women are also more likely to opt for a night in than men, at 64% and 59% respectively. Meanwhile, people in Cardiff (74%) are the biggest homebodies and those in Birmingham (5%) are the most likely to enjoy a night out. Three in ten of those polled said that just getting through the day feels like an achievement, without the added pressure of plans after work. In fact, Britons value time to themselves so much that one in five feel relieved when social events fall through.

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