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Thu 5th May 2022 - Pistachio Holdings increases stake in Creams, government shelves tipping legislation
Pistachio Holdings increases stake in Creams as founders step away from day-to-day operations: The majority shareholder of dessert parlour operator Creams, Pistachio Holdings, and co-investor, Salonica Maroon, have acquired a further shareholding from the brand’s founders, Adam Mani and Balal Aqil. Consequently, the founders will move away from the business’ day-to-day operations to focus their experience in key strategic areas. Adam Mani steps down as chief executive to assume the role of chief innovation officer. Aqil will step down form the board of directors and become an advisor. Othman Shoukat joined Creams as managing director at the outset of the covid-19 pandemic and has managed the business since March 2020, effectively pivoting it towards delivery and driving business growth through like-for-like improvements and new store openings. He will continue to lead the business and will be supported by Christian Chaumette, recently appointed as chief operating officer, alongside other members of the senior leadership team. Since the pandemic, Creams has opened more than ten new restaurants and secured a pipeline of a further 15 sites opening in the next six months. Since Pistachio Holdings and Salonica Maroon’s investment in December 2020, the new investors have focused on building a stronger organisational structure, enhancing environmental, social and corporate governance across the brand and promoting sustainable growth using technological tools that will be rolled out in the coming months. Shoukat said: “It’s exciting times ahead for Creams. As well as further growth in the UK, we are committed to international expansion with our franchisees. We signed our first overseas partner to open 22 stores in Egypt over the next five years and are seeking partners for new territories.” Mani added: “Creams has always been at the forefront of guest experience and product innovation and the realignment of roles, and the strengthened leadership team, means an enhanced focus on this. Othman and the senior leadership team have done exceptionally well and will drive us closer to realising our aspiration of becoming the market-leading global dessert brand.” Creams operates more than 100 sites in the UK with its latest opening in Putney on Monday (9 May). Creams is featured in UK Food and Beverage Franchisor Database, an exhaustive guide to the companies offering a food and beverage franchise in the UK which will be updated every two months. The first edition features 100 companies, providing insight on the offer, locations, cost and other key details, and provides 27,000 words of content. The next edition will be sent to Premium subscribers later this month. Companies can now have an unlimited number of people receive access to Propel Premium for a year for £895 plus VAT – whether they are an operator or a supplier. The single subscription rate is £445 plus VAT for operators and £545 plus VAT for suppliers. Email jo.charity@propelinfo.com to upgrade your subscription.

Government shelves tipping legislation in move that could cost hospitality workers ‘thousands of pounds’: Ministers are shelving plans to ensure workers keep their tips, despite having first promised to do six years ago, in a move that has angered trade unions. Paul Scully, the business minister, announced in September the government would take action to make it illegal for employers to withhold tips from workers. The plan was designed to prevent restaurants from the increasingly common practice of taking a share of tips rather than passing them on to staff. The idea had been on the back burner since it was first put forward by Sajid Javid when he was business secretary in 2016. But government insiders told the FT the idea has been dropped from the Queen’s Speech next week. Sharon Graham, general secretary of Unite, said hospitality workers can lose thousands of pounds a year from their earnings when an employer refused to hand over their tips. “Every year this government promises action to ensure fair tipping, and then does precisely nothing to deliver on that promise,” she said. At the time the government said it was taking action because the shift towards a cashless society – with 80% of tipping now taking place on cards – had led to more “dodgy tipping practices”. The legislation would have included a requirement for all employers to pass on tips to workers without any deductions. It would also have laid out a statutory code of practice setting out how tips should be distributed to ensure fairness and transparency. However, the plan has been dropped “for the foreseeable future”, according to one senior government figure. The Department for Business, Energy and Industrial Strategy suggested the government would encourage that “industry best practice” on tipping should be applied by employers.

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