News-In-Brief

Today’s news in brief – 20/12/24

Drake and Morgan reported that turnover rose 5% to £45.5m for the year to 31 March. Alongside this, the company’s adjusted EBITDA rose to £4.4m, up from £4.1m the previous year. It comes as the company has stated that Christmas bookings are set to eclipse last year’s record across its…

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Today’s news in brief – 19/12/24

Stonegate Group has invested more than £100m in its estate throughout 2024. More than £17m went to its pub partners estate to support publicans in creating “thriving local pubs”. Meanwhile, the group also undertook significant refurbishments including the £840k development of a brand-new Slug and Lettuce Glasgow, which opened in…

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Today’s news in brief – 18/12/24

Azzurri Group has seen profits rise from £21.3m to £41.9m in FY24, amid a year of “strong financial performance and transactional strategic progress. The Zizzi owner reported that revenues rose by 185 to £303.1m, while EBITDA more than doubled to £32.1m. It also acquired the UK&I master franchise rights for…

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Today’s news in brief – 17/12/24

Sales of pints in December could generate turnover of around £1.4bn, says the BBPA. This comes as the association believes that almost 300 million pints could be sold in pubs in December. As a result, the beer and pub sector is expected to pour a total of £3.3bn in GVA…

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Today’s news in brief – 16/12/24

Levy UK&I and Excel London have made a multi-million-dollar agreement, strengthening their long-standing relationship. The partnership aims to build on its 25-year association with a greater emphasis on future investment. In addition, Levy will expand its in-venue food and beverage offer to Excel’s forthcoming 25,000sqm expansion. Levy has been Excel’s…

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Today’s news in brief – 13/12/24

McWin Capital Partners is in talks to acquire Gail’s, according to Bloomberg. It comes as the investment firm’s owners, Henry McGovern and Steven Winegar, already hold shares in the bakery-café chain, having partnered with Bain Capital Credit to take a controlling stake in September 2021. Earlier in November, Sky News…

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Today’s news in brief – 12/12/24

UKH has called for “substantial” rates relief, citing years of overtaxation on the sector. CEO Kate Nicholls has raised concerns that some businesses with a rateable value over £500k have been “dragged” into the surcharge category and face paying higher business rates, which goes against the policy’s intention. She emphasised…

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Today’s news in brief – 11/12/24

SSP Group has begun an IPO of Travel Food Services in India, in conjunction with its joint venture partner, K Hospitality Corp. Subject to regulatory approvals, the pricing and completion of the IPO is targeted to be in spring 2025. SSP acquired an initial stake in TFS in 2016 and…

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Today’s news in brief – 10/12/24

Tortilla now expects its FY24 revenue forecast to exceed expectations, and as a result, has adjusted its guidance range to between £64m and £64.3m. This follows the continuation of the strong sales recovery for the group’s UK business. Like-for-like sales in the UK led the group’s recovery to a position…

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Today’s news in brief – 09/12/24

Drinks sales edged back into growth by 1% in the last week of November, according to CGA and NIQ’s Daily Drinks Tracker. It comes as a welcome upswing after a “tricky” previous week and fluctuations throughout the autumn and early winter. Drinks sales were up year-on-year on five of the…

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