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Morning Briefing for pub, restaurant and food wervice operators

Mon 14th Feb 2022 - Formula One takes stake in new competitive socialising concept from Adam Breeden
Formula One takes stake in new competitive socialising concept from Adam Breeden: Adam Breeden, the co-founder of All Star Lanes, Hijingo, Bounce, Flight Club and Puttshack, has signed a global agreement with Formula One to launch and roll out his new immersive, state-of-the-art racing simulation concept. Formula One’s commitment to the partnership is reflected in the fact the global sporting brand has chosen to take a “meaningful equity position” in Breeden’s new Kindred Concepts vehicle, which is overseeing the launch of the new venture. Through the exclusive, long-term partnership, the companies said as many as 30 venues will be rolled out worldwide in the next five years. Kindred Concepts, which is also backed by sector investor Imbiba, aims to “roll out at pace from launch, with a mixture of owned and operated venues, joint ventures, and franchise partnerships”. Target locations include the UK, the US, key western European cities, the Middle East and Asia. As revealed by Propel in December, the debut site under the new venture will open at the One New Change scheme in London’s St Paul’s, in the final quarter of this year. The company said: “Fusing racing and gaming, with the fun of competitive socialising, and the glamour and spirit of Formula One, the concept will cater to a wide range of groups and occasions, from fun-filled nights out, to family experiences, corporate events and everything in between, boasting an impressive feature bar with an extensive offering, surrounded by dining and drinks areas with elevated food menus.” For the site at One New Change, up to 60 bespoke, cutting-edge motion racing simulators are being designed by a leading simulator design company, in collaboration with Formula One. Guests will choose from a variety of racing modes to compete against each other individually, in team-based groups or as part of all-venue racing formats, with different car modes for all ages and abilities. The venue will also provide enhanced experiences on Grands Prix weekends. Kindred Concepts’ senior management team includes chairman Stephen Murphy, former group chief executive of Virgin Group; Jonathan Peters, formerly chief financial officer for Caprice Holdings, Ivy Collection, Bill’s Restaurants, Birley Clubs and Everyman Cinemas; chief development officer Diane Jervis, who launched Bounce and brought Puttshack and Hijingo concepts to market, and chief operating officer Roberto Moretti, former UK chief operating officer of Puttshack and of Bill’s. The company’s chief technology officer is Gavin Williams, the founder and chief executive of Quander.io, which delivered multi-sensory and measurable digital brand experiences for the likes of Sky, BMW and the NBA. Breeden, founder and chief executive of Kindred Concepts, said: “When people come to one of our venues, we have to wow them and give them an unforgettable experience, and this new concept is going to take people’s breath away. With our experience creating best-in-class concepts and operations, and the strength of the Formula One brand, we are going to take competitive socialising to the next level, marrying cutting edge technology, a premium food and beverage offering, and a stunning setting, with the unrivalled glamour and excitement of Formula One.” Ben Pincus, director of commercial partnerships, Formula One, added: “We’re thrilled to partner with best-in-class operators on this global opportunity, which will create an incredible entertainment experience for a worldwide audience, and a go-to hospitality venue for Formula One fans and non-fans alike. The racing simulators will bring to life the experience of driving a Formula One car in a high-octane, stylish and fun environment, giving more people the opportunity to enjoy and get closer to the world of Formula One.”


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