Punch Pubs chief says owners supportive of growth plans, welcomes ‘working from pub’ trend, wants to see more experiential pubs: Clive Chesser, chief executive of Punch Pubs, has said owners Fortress support his plan to invest and to buy more pubs, a year after acquiring the company. Punch was acquired by the US-based investor firm, owned by Japan’s SoftBank, from Patron Capital in December last year. “We have an eye on M&A (mergers and acquisitions), Chesser told the Daily Mail. “Although we’re in a vulnerable sector, Fortress has acquired us for a reason, which is that they’ve got real confidence in our growth trajectory.” The most recent financial update for Punch Pubs showed it made pre-tax profits of £20.7m over the year to August 14, on £284m of revenue. Chesser said: “We’re trading ahead of 2019, but profit is more challenging because of the cost impacts.” Yet, he says, the “bond of trust” with his publicans has never been stronger, with around 50 Punch pubs each year switching to the management partnerships model. Under the agreement, Punch pays the running costs for the pub and the operators hire the staff and pay their wages out of an agreed share of overall profits. “Our ambition is to be a modern and progressive pub company, supporting innovative entrepreneurs,” Chesser said. “I take my hat off to our publicans every day because they’ve set up their own business. They’re brave enough to do that, and they throw their heart and soul into running a business.” Chesser also said customers looking to use his pubs as offices and cut their home energy bills, in a new trend known as ‘working from pub’, are welcomed. “We can provide a great environment where we pay the energy bill and we have good coffee and wi-fi in a comfortable environment,” he said. “We want the communities to feel like stakeholders in their local pub.” Led by Punch Pubs’ sister business, a craft beer and pub business called The Laine Pub Company, Chesser also plans to win over a generation of younger drinkers through providing more events and entertainment. His favourite Laine pub is the Four Thieves in Clapham, which calls itself “the ultimate pub experience”, with everything from comedy nights to virtual gaming. “Downstairs there are karaoke booths; upstairs there’s virtual reality pods like grown-up Scalextric and retro arcade games on big screens,” Chesser said. “It’s a really future-looking pub business.” Last week, Chesser had breakfast with shadow business minister Jonathan Reynolds to discuss Labour’s plans for reforming business rates, but he has been lobbying the Tories too, to persuade them to lift the tax burden on pubs. His wish-list also includes a new visa system to help with labour shortages and energy bills once the relief scheme ends in March.

Rail strikes set to go ahead after unions reject 8% pay rise offer: Rail unions have rejected an 8% pay offer that would have averted the festive train strikes which, it has been estimated, will cost the sector £1.5bn in lost sales. The rejection of the offer from rail bosses means national strikes are set to go ahead on December 13 and 14, and again on December 16 and 17. On Sunday, rail unions were accused of “holding the country to ransom” by rejecting the offer, which included a salary boost over two years and guaranteed no compulsory redundancies until April 2024. Mark Harper, the transport secretary, described the situation as “incredibly disappointing, and unfair to the public”, reports The Telegraph. He said: “The RMT has been offered an improved new deal by the train operating companies and has rejected it outright. The situation is incredibly disappointing, and unfair to the public, passengers and the rail workforce who want a deal. Our railways need to modernise. There’s no place for outdated working practices that rely on voluntary overtime to run a reliable seven-day service. Passengers should also receive the service they’ve paid for. This deal will help get trains running on time. The government continues to play its part in trying to facilitate a resolution to this dispute, while rightly letting the employers do the negotiating. Now it’s for the unions to play their part too by putting the offer from the train operating companies to their members and call off industrial action that would damage the rail industry, rail workers and the wider economy.” The RMT did not put the deal to its members. Mick Lynch, RMT general secretary, said: “We have rejected this offer as it does not meet any of our criteria for securing a settlement on long-term job security, a decent pay rise and protecting working conditions.”

Brasserie Bar begins acquiring freeholds of existing estate: Brasserie Bar Co, the White Brasseries owner, has begun acquiring the freeholds of sites in its existing 19-strong pub estate. The Alchemy Partners-backed business has so far acquired the freeholds of six of the 19 leaseholds. At the same time, The Times reports the business expects to have 200 bedrooms across its pub estate within 18 months. It plans to open seven new sites a year, as part of a plan to reach a target of 50 pubs within five years. At the time of the Alchemy deal, the company was aiming for an investment of as much as £100m over the five-year plan, and is sticking to that target in the face of inflation. The company said it had enjoyed strong summer trading while Christmas bookings were up 15% on the same period in 2021. Propel revealed last month that Patrick Dardis, who stepped down as chief executive of London pub retailer Young’s earlier this summer, had joined Brasserie Bar Co, as a non-executive director. The company opened its latest pub on the former Maison Sax, at Ashley Cross, Poole, under its old name, The Britannia, in October. It is understood to be in talks on several more pub sites.

Government plans flexible working boost, lowest paid workers given right to work for multiple employers: Flexible working could be requested from the first day of a job under new government plans which include job-sharing, flexitime and working compressed, annualised, or staggered hours. Workers were promised that new measures will give them greater access to flexibility over where, when and how they work, reports The Telegraph. Flexible working has been found to help employees balance their work and home life, the government said. It comes alongside new laws coming into effect that will allow the lowest paid to work for different employers. Small business minister Kevin Hollinrake said: “Giving staff more say over their working pattern makes for happier employees and more productive businesses. Put simply, it’s a no-brainer. Greater flexibility over where, when, and how people work is an integral part of our plan to make the UK the best place in the world to work.” Workers on contracts with a guaranteed weekly income on or below the lower earnings limit of £123 a week will now be protected from exclusivity clauses that restrict them from working for multiple employers. The government said its reforms will ensure around 1.5 million low-paid employees can work on multiple short-term contracts. If an employer cannot accommodate a request to work flexibly, they will be required to discuss alternative options before they can reject the request. TUC general secretary Frances O’Grady said: “Flexible working should be available to everyone. It's how we keep mums in work, close the gender pay gap and give dads more time with their kids, and it’s how we keep disabled workers, older workers and carers in their jobs. Allowing people to ask for flexible working from their first day in a job would be a small step in the right direction, but we’d like the government to go much further to ensure that flexible work now becomes the norm. Ministers must change the law so that every job advert makes clear what kind of flexible working is available in that role, and they should give workers the legal right to work flexibly from their first day in a job – not just the right to ask.” But critics have said it could be a blow for smaller businesses and starve city centres of commuter trade. Former Tory leader Sir Iain Duncan Smith said: “What you end up with if you’re not careful is small businesses finding it difficult to get certain jobs done because people just say, ‘I’m heading off home’.”

AG Barr acquires Boost for £20m: AG Barr has acquired drinks brand Boost for £20m, on a debt free cash free basis. The group said the acquisition, from Boost founder Simon Gray and his wife, is entirely funded from its strong net cash position. It said “significant potential exists for further growth and development of the product portfolio”, with opportunities for new product development and innovation. Roger White, AG Barr chief executive, said: “Today’s announcement is further evidence of our strategy to continue to grow the business through targeted acquisitions, with a particular focus on developing within high growth and functional categories. Boost is one of the UK’s most recognisable functional drinks brands, and we are delighted to welcome the team into the AG Barr Group. With AG Barr’s proven track record of acquiring and developing attractive brands such as Rubicon and Funkin, I look forward to working with Simon and the team to ensure Boost continues to grow and develop under our ownership.” Simon Gray, Boost founder and chief executive, added: “I’m hugely excited to embark on the next phase of Boost’s growth with AG Barr.  Over the past 20 years, Boost has proven its popularity with consumers who want great tasting, high performing functional drinks that offer great value for money, and I am sure that as part of the AG Barr Group, we will maintain our strong growth trajectory.”