M&A activity [big deals/small deals]
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A round-up of the weekend's news affecting the hospitality industry. News includes: alcohol duty forecast to rise by 5%-plus in the Budget; UK’s first dedicated cheese restaurant opens in Chelsea; Gourmet Burger King boss buys a stake in Tortilla and more…
Posted: 22 March 2010 | 10:14
A round-up of the weekend's news affecting the hospitality industry. News includes: pubs and hotels win court battle over music fees; Paramount private members’ club averts administration; US ‘breast-aurant’ chain Hooters up for sale for $250m; JD Wetherspoon backs move to Euro time zone...
Posted: 15 February 2010 | 10:17
Story of the week: Two major chef departures this week as rumours surround Cliveden and the news that Chris Horridge, star of the Great British Menu and head chef of the property’s Waldo’s restaurant, is to leave, while earlier in the week Michelin-starred chef Ryan Simpson – and his brigade – quit the Goose...
Posted: 12 February 2010 | 14:33
Private equity firms are circling Bay Restaurants, which owns the La Tasca and Ha Ha Bar & Grill brands, according to reports. The news comes as Bay Restaurants completes a restructuring which will see the Slug and Lettuce chain transfer to its sister firm, Town & City Pub Company...
Posted: 08 February 2010 | 12:00
A round-up of the weekend's news affecting the hospitality industry. News includes: Compass cuts sales decline and buys Canadian firm; Scottish hotelier to launch country’s first home-grown commercial wine; PizzaExpress named as Britain’s most valuable casual dining brand and more...
Posted: 08 February 2010 | 10:07
The Capital Pub Company has bought two more pubs in London, as it said it had seen 'robust' trading since November last year. The firm said it had taken a 40% stake in Ensco 600, the company which owns the Havelock Tavern, a freehold pub in Brook Green, W14, for £280,000. It plans to buy the remaining 60% from January 2011 onwards.
Posted: 03 February 2010 | 10:23
A round-up of the weekend's news affecting the hospitality industry. News includes: Analysts upgrade forecasts for Premier Inn and Costa Coffee; investors back Costa acquisition of Coffeeheaven Sir John Ritblat fails to buy back Merchant Inns; actor urges diners to shop ‘unsustainable’ fish restaurants and more...
Posted: 01 February 2010 | 10:09
Greene King has bought eight pubs from Punch Taverns for £15.9m, as it reported 'relatively strong' growth in the 38 weeks to 24 January 2010. In a trading update this morning, the company said that like-for-like sales in its managed pubs division were up by 4.3%, although they rose by 5%...
Posted: 27 January 2010 | 11:15
Story of the week: Last Friday saw the rather unexpected release of the results of the 2010 Michelin Guide for Great Britain & Ireland, which were unveiled five days ahead of schedule after online retailer Amazon accidentally shipped copies of the guide ahead of its publication date.
Posted: 22 January 2010 | 15:57
A pub operator headed by the former owner of Bar Room Bar, which collapsed into administration last year, is aiming to build its estate to 30 pubs as it plans a £10m investment programme over the next two years. Ross Sanders, who is now managing director of Urban & Country Leisure...
Posted: 22 January 2010 | 10:14
A round-up of the weekend's news affecting the hospitality industry. News includes: MWB seeks £21m for two Scottish hotels; Carl Leaver tipped as successor to Whitbread chief executive; company managing insolvent hotels triples profits; MPs intervene in M&B boardroom brawl and more…
Posted: 18 January 2010 | 10:20
Hotel property values have plummeted 34% since the market's peak in 2007 while restaurant prices have fallen 30% since their 2008 high, a new report by property agent Christie + Co has revealed. The company's study into property values for 2009 saw double-digit falls across the hotel...
Posted: 15 January 2010 | 11:07
A round-up of the weekend's news affecting the hospitality industry. News includes: Older pupils still shunning healthy meals; TGI Friday’s UK franchise to be auctioned; Anglian Water seeks operator for £50m hotel at Leith Shore; Scottish tourism lacks innovation and more...
Posted: 11 January 2010 | 10:57
A round-up of the weekend's news affecting the hospitality industry. News includes: Kraft to increase Cadbury bid; M&B faces shareholder showdown; Hilton tipped for restructure; DCMS to relax live music rules for small venues; Wetherspoon to buy 12 venues and rerun 99p-a-pint promotion; and more...
Posted: 04 January 2010 | 10:16
Story of the week: Italian restaurant chain Strada became the big winner in this year's Caterersearch.com Web Awards, picking up the title of Website of the Year and winner of the Restaurant - Group category. Raymond Blanc chose the winner of The Restaurant last night...
Posted: 18 December 2009 | 15:00
The Orchid Group, the managed pub chain, has rescued 43 Premium Bars and Restaurants (PBR) sites from administration. The deal, which followed the announcement in October that Orchid was in “advanced discussions” over a potential deal, sees all but four of PBR's estate...
Posted: 15 December 2009 | 10:53
Whitbread has made a £36m cash offer for Coffeeheaven, the UK-owned operator of 90 coffee shops in central and eastern Europe. The move, which followed last Friday’s announcement that Whitbread was in “advanced discussions” over a potential deal...
Posted: 15 December 2009 | 10:18
The value of global hotel investment deals will have fallen by almost two thirds this year but the market will begin to pick up in 2010, according to Jones Lang LaSalle Hotels. The property’s agent’s annual review of transactions shows that just $9b (£5.5b) will have changed hands this year, a drop of 64%...
Posted: 14 December 2009 | 15:40
Whitbread expects to exceed expectations for its full financial year after strong performance by Costa Coffee helped to drive a rise in sales for the third quarter. Costa saw an increase of 6.7% in like-for-like sales in the quarter to November 26, with total sales in UK and overseas franchise units...
Posted: 14 December 2009 | 10:32
A round-up of the weekend's news affecting the hospitality industry. News includes: Andrew Coppel to chair Alternative Hotel Group; M&B’s boardroom battle continues; Hugh Osmond on lookout for struggling leisure company;Toptable to launch mobile phone apps and expand coverage; and more...
Posted: 14 December 2009 | 10:16
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