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Mon 5th Nov 2018 - Novus sells three Tiger Tiger sites to Deltic
Novus sells three Tiger Tiger sites to Deltic: Novus, the London bar and restaurant operator, has exchanged contracts for the sale of three Tiger Tiger sites to The Deltic Group for an undisclosed sum. The sites are in Newcastle, Manchester and Portsmouth. The transaction will conclude in the next few weeks as the property lease transfer process is completed. In the meantime, the three sites will continue to be operated by Novus. Toby Smith, Novus chief executive, said: “This is the second stage of the planned full divestment of our late-night estate following the sale of 15 sites to Stonegate in July. We are delighted to have agreed terms with the Deltic team, who will be terrific owners for these iconic sites. They are acquiring three fantastic teams in great locations.” The Deltic Group chief executive Peter Marks added: “We are delighted with this acquisition. Located in dynamic, vibrant cities, each of these sites perfectly complements our existing portfolio and will see us enter the Manchester and Newcastle markets for the first time. We look forward to welcoming the current Tiger Tiger teams to the Deltic family. Our intention is to trade seamlessly until summer next year, whereby each of these sites will be rebranded to a new concept that is currently under development. It will reinvigorate and modernise the very essence of the original Tiger Tiger vision – a multi-roomed, cross-occasion, food, drink and dancing all-day venue.’’ Novus launched the Tiger Tiger brand in Haymarket, London, in December 1998 – one of ten sites being marketed by the company. It has switched its strategy from the late-night sector to focus on its Balls Brothers brand, development of its craft beer and pizza format Tank & Paddle and its Late Night London website. Last month, Smith told the Bar and Nightclub Conference the company was achieving “substantially better returns” on its core businesses than it did within the late-night sector, where there had been a “higher degree of volatility in trading terms”. Like-for-like sales at its Tank & Paddle site in Minster Court in the most recent quarter were up 15%. Across Tank & Paddle’s three sites, like-for-like sales were up 31% in the most recent quarter. They are selling about 2,270 pizzas and 4,500 pints of Meantime tank beer a week. Meanwhile, its ten-strong Balls Brothers business, which has partnered with meat supplier Ginger Pig, saw 13% like-for-like sales growth in the most recent quarter. The Late Night London website has become a fully fledged bookings and listings site featuring hundreds of events, with plans to take this regionally. Smith reported 50% of visits to the website were converted into bookings.

PepsiCo to acquire Pipers Crisps: PepsiCo has announced its intention to acquire Pipers Crisps for an undisclosed sum. PepsiCo plans to accelerate the growth of the Pipers business in the UK and continue to develop exports. PepsiCo said Pipers, which is stocked by a number of sector operators, would complement its own savoury snacks portfolio. PepsiCo UK general manager Ian Ellington said: “Pipers shares our uncompromising commitment to delivering on taste and quality and we’ve long admired its entrepreneurial spirit. The Pipers brand has a strong proposition within the market, with stand-out taste, flavours and appeal.” Pipers Crisps managing director James McKinney added: “We have developed innovative products to suit evolving tastes while establishing a strong foothold in the market. PepsiCo’s commitment to accelerating the growth of the Pipers brand means more people will be able to enjoy the unique, award-winning flavour of Pipers.” The acquisition is subject to approval by the Competition and Markets Authority, with any deal likely to be concluded in early 2019.

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