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Morning Briefing for pub, restaurant and food wervice operators

Wed 11th Jan 2017 - Novus acquisition, Grand Union sale, Revolution new commercial director
Novus Leisure acquires three Rocket sites: Novus Leisure, the London bar and restaurant operator, has bought Rocket Restaurants. The deal at an undisclosed price will complete on 30 January 2017. The sale includes the three London Rocket sites at Canary Wharf, Adam’s Court and Bishopsgate. The Nottingham Rocket site has been assigned to Ego Restaurants. Toby Smith, chief executive of Novus Leisure, said: “We are delighted to add the three Rocket sites to our unrivalled London portfolio, not only will this acquisition strengthen our estate in the City of London, it will also create an exciting opportunity to operate in Canary Wharf for the first time in the company’s history. We are looking forward to welcoming the Rocket team into the Novus family.” James Horler, chief executive, 3Sixty Restaurants added: “The sale of Rocket to Novus makes a lot of sense. We are very focused on an organic self-funded growth of Ego in pubs throughout the regions and have opened six sites already with another two in the immediate pipeline. This will take the Ego estate to fifteen.”

Grand Union on the market for £5m: London bar chain Grand Union has hired advisers as it seeks to sell the business. Leisure property specialist Coffer Corporate Leisure has been taken on to handle the sale of Grand Union, City AM has reported. The company, which offers “cocktails, burgers, dancing and happiness”, is co-owned by founder Adam Marshall and serial investor Luke Johnson. The owners are seeking about £5m for the company, which has bars in Brixton, Camberwell, Chancery Lane, Camden, Farringdon, Kennington, Paddington and Wandsworth. Grand Union was founded in 2006 in Camden by Marshall and Adam Saword. The latter sold his 50% stake to Johnson, who is now chairman, in 2013.

Revolution promotes Myles Doran to commercial director: Revolution Bars Group, the 66-strong bar and casual dining group, has promoted Myles Doran to commercial director. Doran joined Revolution Bars Group in 2013 as trading director and has been involved in the company’s product innovation, procurement, marketing and merchandising. He has successfully implemented internal recognition and incentive schemes and most recently has overseen external group communications and marketing. Mark McQuater, chief executive of Revolution Bars Group, said: “This appointment recognises the high level of professionalism Myles has shown and the successes achieved. From internal communications, through to the development of our drink range and optimised customer service, Myles has more than proven himself.” Doran added: “It’s great to receive this recognition for the work undertaken over the last few years. The team at Revolution is hugely talented and I look forward to working with them to develop strategies to grow and evolve the business further.” Revolution Bars Group have opened four new Revolución De Cuba venues in Harrogate, Reading, Glasgow and Aberdeen in the first half of this financial year.

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