Bidder emerges for Brakes: For more hospitality stories, see what the weekend papers say

Bidder emerges for Brakes

Serial investor Baugur is looking to buy Brakes, the European food distribution giant put up for sale by its private equity backers for £1.2b. If it pulls off the deal, Baugur will become the dominant force in the UK foodservice sector. It already owns number three player Woodward Foodservice. -  The Observer, 25 March.

Whitbread move towards selling David Lloyd leisure division

Whitbread is preparing to kick off a £1b auction of its David Lloyd Leisure fitness-clubs arm. In the past few days the company’s regular adviser, Morgan Stanley, has granted interested parties access to detailed financial information about the business to help them formulate formal bids for the clubs. The move comes after Whitbread, headed by chief executive Alan Parker, received a number of approaches for the division. – Sunday Times, 25 March.

David Lloyd’s son may bid for Whitbread leisure division

Scott Lloyd, son of the founder of David Lloyd Leisure, sold to Whitbread for £200m in 1995, could be in early talks to buy the fitness chain from Whitbread. – Mail on Sunday, 25 March.

Gatwick Holiday Inn up for sale

Realstar Group, the owner of the majority of InterContinental Hotels Group’s UK properties, has appointed CB Richard Ellis Hotels to sell the 216-room Holiday Inn Gatwick for an estimated £45m. – The Times, 24 March.

Merchant Inns want £75m for expansion

Robert Breare, chairman of Merchant Inns, the food-led pub company, is in advanced talks with two private equity firms with a view to securing £75m of backing for his expansion plans. – The Times, 24 March.

Hoteliers angry at Budget tax allowances

Hoteliers are up in arms over the scrapping in the Budget of tax allowances on buildings, a move that could cost the industry millions of pounds in extra tax and make certain investments unviable. – The Times, 24 March.

Claridge’s owner may bid for Jurys chain

Derek Quinlan, the former Dublin tax inspector who owns London’s Claridge’s, Connaught and Berkeley hotels, is understood to be among the bidders in the £680m auction of the Jurys Inn chain.  – The Times, 24 March.

by Chris Druce

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