Buns from Home targets 15-20 new openings as it appoints first ops director: Buns from Home, the London independent bakery brand, has appointed John Brooks as its first operations director as it gears up to open 15-20 new sites within the next year, Propel has learned. Brooks joins Buns from Home after nine years at Leon, where he rose from assistant manager to leading operations for the group’s highest grossing area. He joins the business as it “readies itself for significant scale over the coming years”. Buns from Home started as a lockdown project for west Londoner Barney Goff and opened its first bakery in Notting Hill in August 2020. In May, it hired ex-Leon managing director Shereen Ritchie as its new chief operating officer, and said this strengthening of the leadership team signals the brand’s plans for further expansion. The business recently opened its 12th site in London, in Canary Wharf, and has plans to open a further 15-20 within the next year. Alongside its signature cinnamon bun, Buns from Home offers an “ever-changing weekend special, demonstrating its commitment to innovation and seasonality”. Recent partnerships include Matt Adlard, author of ‘Bake it Better’ and Jenki Matcha, both of whom led to sell-out weekends for the brand. Ritchie said: “John understands hospitality intrinsically; delivering best-in-class customer experiences amidst busy environments, while driving revenue and underlying profitability. He’ll be a huge asset to the Buns team as we grow.” The recent Canary Wharf kiosk opening was the fourth in three months for the concept, having also opened a store in Canary Wharf, as well as further shops in Fulham and Baker Street. Buns from Home features in the Propel Multi-Site Database, which is available exclusively to Premium subscribers. The comprehensive database, which is produced in association with Virgate, is updated monthly and provides company names, the people in charge, how many sites each firm operates, its trading name and its registered name at Companies House if different. The database now features 2,983 companies. Companies can now have an unlimited number of people receive access to Propel Premium for a year for £995 plus VAT – whether they are an operator or a supplier. The single subscription rate is £495 plus VAT for operators and £595 plus VAT for suppliers. Email kai.kirkman@propelinfo.com to upgrade your subscription.  

 

New speakers revealed for final Propel Multi-Club Conference of 2023, three free places per company for operators: New speakers have been revealed for the final Propel Multi-Club Conference of 2023. Marcello Distefano, managing director of restaurant group San Carlo, and Sophie Street, head of acquisition at Zambrero, Australia’s largest Mexican quick-service franchise, have joined the property panel line-up. Distefano and Street will join Stephen Owens, managing director of pubs and restaurants at Christie & Co, who also talks to Chris Moore, property and strategy director at Star Pubs & Bars, and Graeme Bunn, property director at Red Oak Taverns, about how the industry landscape is changing and what buyers are looking for. The conference takes place on Thursday, 16 November, at the Millennium Gloucester Hotel in London’s Kensington, and is open for bookings. The all-day conference will focus on “progress in an era of strong headwinds”. For the full speaker schedule, click here. Operators can book up to three free places per company by emailing kai.kirkman@propelinfo.com.

 

Number of experiential leisure launches included in next edition of The New Openings Database, features 107 site openings: Premium subscribers will receive the next edition of The New Openings Databaseon Friday (3 November) at midday, which features a number of launches by experiential businesses. The database features T-Squared Social, the premium sports and entertainment gastropub concept backed by golfer Tiger Woods and singer Justin Timberlake, which will make its UK debut in St Andrews, Scotland. Sixes, the cricket-based competitive socialising concept from the founders of Mac & Wild, has lined up two more UK openings. Meanwhile, Ballie Ballerson has opened its latest site, and first in Wales, in Cardiff. The database will show the details of 107 site openings, including which company has opened a site or its plans to open one in the future. It will have details on what type of site it is and its location, and there will also be a website link to the businesses. The database is published on a monthly basis and Premium subscribers will also receive a 7,600-word report on the new additions to the database. Premium subscribers also receive access to five other databases: the Propel Multi-Site Database, produced in association with Virgate; the Propel Turnover & Profits Blue Book; the UK Food and Beverage Franchisor Database; the Who’s Who of UK Food and Beverage; and the UK Food and Beverage Franchisee Database. Companies can now have an unlimited number of people receive access to Propel Premium for a year for £995 plus VAT – whether they are an operator or a supplier. The single subscription rate is £495 plus VAT for operators and £595 plus VAT for suppliers. Email kai.kirkman@propelinfo.com to upgrade your subscription. Premium subscribers are also being given exclusive access to the recording and slides to Propel Multi-Club Conferences. They also receive their morning newsletter 11 hours early, at 7pm the evening before; regular video content and regular exclusive columns from Propel group editor Mark Wingett.

 

Food price inflation drops to lowest point in 15 months: Food prices inflation has fallen to its lowest point in 15 months, reports The Telegraph. Grocery prices increased by 8.8% over the year to October, the sixth straight month of deceleration and down from September’s 9.9% increase, according to the British Retail Consortium and NIQ. It marks a steep descent from the near-20% peak growth after Russia’s invasion of Ukraine in February 2022, which caused turmoil in international grain and energy markets and sent the cost of food production soaring. Overall shop prices inflation slowed to 5.2% in the year to October, its lowest level since August 2022, signalling that official headline inflation is also set to decline from 6.7%. The research illustrates the rapid acceleration in supermarket and essential bills over the past two years is gradually unwinding. 

 

‘Delivering consistently great experiences key to driving loyalty’: Delivering consistently great experiences is the key to driving loyalty rather than value for money or even discounts and deals, new figures from Zonal’s latest GO Technology report, in partnership with CGA by NIQ, have revealed. Almost half (49%) of respondents said a few bad experiences is the number one reason they become less loyal. More than half (52%) said they now have higher expectations of the brands they are loyal to due to the cost-of-living crisis, rising to 64% among those in the 18 to 24-year-old age bracket. Other reasons for reducing loyalty were raised prices (37%), one bad experience (24%), not getting value for money (24%) and if the venue was involved in controversy (23%). While loyalty schemes are not the main factors determining whether customers keep returning, well over half (58%) said these schemes represent good value for money, and nearly half (47%) have joined a loyalty scheme to save money. Olivia FitzGerald, chief sales and marketing officer, Zonal, said: “Consistently great experiences are the key to success. Having a digital loyalty tool in place makes it easy for operators to control accruals, rewards and redemptions, even for completely bespoke schemes.” Karl Chessell, director – hospitality operators and food, EMEA, CGA by NIQ, added: “Consumers are ready and willing to stay loyal to their favourite brands or venues, but they also know that if they don’t get what they want, then there are plenty of other options to choose from. This research makes clear that operators have no short-cuts to loyalty: it can’t be achieved overnight or bought.”

 

Average tip drops to less than £3 as consumers tighten belts: Squeezed Brits are tipping almost 40% less than a year ago as the cost-of-living crisis tightens its stranglehold on the economy. SumUp, a company that makes contactless payment devices, has reported the average value of tips given to cafés, restaurants, hairdressers and other small businesses that use its payment system has plunged from £4.65 in August 2022 to just £2.85 in the same month this year. The contactless card readers made by SumUp come with a “smart tipping” feature allowing retailers to add a message on a device’s display that requests customers consider making tips of £1, £2 or £3 for transactions under £10. Overall, takings in gratuity using the company’s devices have fallen 39% in the last year, which it blames on financial pressures. Luke Beavon, chief executive of SumUp, said: “Over the last year, the economic landscape has presented challenges for both the British public and hospitality merchants across the UK. As consumers grapple with reduced disposable income, their contributions to the local cafés and restaurants they frequent have significantly dwindled over the past year.” Kate Nicholls, chief executive of UKHospitality, added: “With the cost-of-living crisis affecting us all, it unfortunately comes as little surprise that customers are being more cautious with their spending and that this appears to be impacting tipping in venues. From the waiting and bar staff to chefs and kitchen teams, the people that work in hospitality are the core of what makes for a fantastic experience.”

 

Firms going bust on track for worst year since 2009: The number of companies going bust this year is on track to be the highest since the depths of the financial crisis in 2009. Insolvencies rose 10% from a year ago in the three months to the end of September, the latest official figures for England and Wales show. There has also been a sharp rise in the number of firms at risk of going bust. Firms in “critical financial distress” jumped 25% in the last three months, insolvency expert Begbies Traynor said. They are defined as having county court judgments exceeding £5,000 against them – often a precursor to going under. There are nearly 38,000 companies in critical financial distress, according to data prepared by analysts Red Flag for Begbies Traynor. Julie Palmer, partner at Begbies Traynor, said this was down to a combination of higher inflation and borrowing costs twinned with weaker consumer confidence and demand. “Tens of thousands of British companies are in financial dire straits now that the era of cheap money is firmly behind us,” she told the BBC. “Businesses that had loaded up on debt at rock-bottom rates, and were only able to cling on during the pandemic thanks to government support, must now deal with a financial reality check as higher interest rates hit working capital for the foreseeable future. Taken together with stubbornly high inflation and weak consumer confidence, many of these businesses will inevitably head towards failure.” Support measures during covid – including furlough, bounce back loans and forbearance on the part of HM Revenue & Customs – kept company failure rates low but those supports have fallen away at the same time as inflation and interest rates have risen, hitting company bottom lines and their customers’ pockets.

 

Welsh businesses warn single-use plastics ban could mean pricier takeaways: Welsh businesses have warned that the country’s forthcoming single-use plastics ban could mean pricier takeaways. Disposable plastic cutlery and trays are set to be outlawed in Wales, following similar bans in England and Scotland, with the changes taking effect on Monday (6 November). At Fellas kebab shop, in Cardiff’s Chippy Lane, manager Sam Raslan told the BBC they were using up the last of their polystyrene trays ahead of the new restrictions. “We’re starting to swap to equipment that’s healthier [for the environment], but it costs us more than three times more than before,” he said, adding that it was leading to arguments with customers over the higher price of takeaways. Tamer Ali, of Tony’s Fish Bar, agreed that environmentally friendly containers were “very expensive” but hoped once everybody had made the switch, “the prices will come down”. Rotana Grill House owner Nasir Ahmadzai said his shop had already switched to wooden cutlery and recyclable cartons as “people used to complain about the plastic forks”, adding that he hoped the switch will help attract customers.

 

Norfolk considering tourist tax: Norfolk councillors are mulling a tourist tax on holiday lets in a bid to claw back tax lost to the rise in second homeowners. North Norfolk District Council wants to add a £1 tourist levy on to Airbnb bookings to help plug finances that have come under strain from a rise in second homes that has pushed out local council taxpayers. It is the latest plan being considered in the county with one of the highest proportions of second homes in the country, reports The Times. Councils currently do not have legislative powers to impose tourist taxes like those in other European countries, but cities such as Liverpool and Manchester have already used so-called Business Improvement District levies as a legal workaround to tax catered accommodation. The leader of North Norfolk District Council, Cllr Tim Adams, said: “Lots of second homeowners aren’t paying for local services right now. We don’t want to put off tourists, but equally, they don’t seem to be complaining about similar taxes in the likes of Paris.”

 

David Lloyd Leisure identifies opportunity for 46 new UK sites and 550 in Europe as new member sales remain ahead of ‘normal levels’, drive to premiumise offering: Health and leisure business David Lloyd said it has identified the opportunity for 46 new UK sites and 550 in Europe as new member sales remain ahead of “normal levels”. The business, in its accounts for the year to 31 December 2022, also said it is focusing on premiumising its offering, including adding more spa retreats. The company opened two new sites in 2022, in Bicester and in Cricklewood, north west London, to take its total to 69 health clubs. Post-year end, it has acquired a county club in West Sussex for £6m; opened a new club in Shawfair, Edinburgh; and purchased land in Nantwich, Herne Bay and Bury St Edmunds. It has also entered agreements to lease land in Chalfont St Peter and to lease a club in Wandsworth, south London. It has also closed sites in Birmingham and Maidstone, agreed to the sale and leaseback of its club in Rugby and been fined £2.55m – plus £260,000 legal costs – for a 2018 fatality at its Leeds club. Director Patrick Burrows, in his statement accompanying the accounts, said: “Our post covid-19 recovery was excellent, driven by record-breaking new member sales (NMS) in 2021. This momentum continued throughout 2022 with strong NMS that remained ahead of ‘normal’ levels. We have leveraged our opening balance sheet strength to fund accretive pipeline M&A and repay covid deferrals. We are ‘premiumising’ our offering to deliver yield and further differentiate David Lloyd from other competitors. The company has developed a strong pipeline of sites and has carried out extensive analysis to identify white space in target towns and cities, generating 46 and 550 potential opportunities in the UK and Europe respectively.” It comes as the company returned to profit in the period, turning a £50,782,000 pre-tax loss in 2021 into a £15,702,000 pre-tax profit. Turnover was up from £341,330,000 to £557,092,000. Of this, £447,760,000 came from membership subscriptions (2021: £268,423,000), £59,380,000 from retail (2021: £39,518,000) and £49,952,000 from other revenue (2021: £33,389,000). Further analysis shows £554,337,000 came from UK operations (2021: £339,610,000) and £2,755,000 from Europe (2021: £1,720,000). It received £353,000 in government grants (2021: £14,363,000) plus £1,130,000 in insurance proceeds. No dividends were paid (2021: nil). Membership numbers rose by 10,000 to 605,000 during the period.

 

City Pub Group sells Damson & Wilde site to Gusto Pronto: The City Pub Group, the owner and operator of circa 50 pubs across southern England and Wales, has sold its all-day dining concept Damson & Wilde, in Bury St Edmunds, to Suffolk-based brewer and retailer Gusto Pronto Group. David and Roxane Marjoram, owners of Gusto Pronto, which already operates five pubs in the region as well as a brewery and wine shop, will keep the Damson & Wilde name when they take over the Abbeygate Street site in mid-November. City Pub Group chose Bury St Edmunds to launch its first Damson & Wilde branded bar and restaurant in June 2022, on a former Café Rouge site, with hopes to open more around the country. Talking to Propel last month on any plans to open further sites under the group’s all-day dining concept, City Pub Group chairman Clive Watson said: “We are pub operators, not all-day dining operators. We’re sticking to wet-led sites with lower operating costs. It’s what we do best.” The Marjorams said: “We’re taking the reins from mid-November, and you will immediately see the Gusto hospitality you know and love. The current team will stay in place, supported by our Gusto team. We want to take some time to get to know the business, so the current menus will continue to the end of 2023, including the festive menus. Come January, we’ll launch new food menus. We’ll tweak the drinks offering over time – our Brewshed beer has been stocked at Damson & Wilde from the start – and Vino Gusto will supply our wine.” Oliver Trezise, regional director of City Pub Group, said: “We’re delighted to be handing over the reins to such experienced, passionate and highly thought of local operators in David and Roxane. We have every confidence our fantastic team, not to mention our customers, will be very well looked after. No doubt the local knowledge and support Gusto Pronto bring to the table will see them and Damson & Wilde thrive in the months and years ahead.” Everard Cole acted on the deal.

 

Asda takes full ownership of Leon, will add brand to store portfolio as EG Group deal completes: Retailer Asda Group has taken full ownership of natural fast food brand Leon after completing the acquisition of EG Group’s UK business for an enterprise value of £2.07bn, which it said would accelerate its growth in convenience and foodservice. The company said it would now look to introduce the circa 80-strong Leon brand into its stores. Last year, Leon started selling grocery coffee beans and grounds in 385 Asda stores and began rolling out its coffee-to-go kiosks into the retailer’s supermarkets. Asda said the acquisition also accelerates its move into the £62bn foodservice market, with the transfer of 462 Greggs, Burger King and Subway outlets as franchise agreements. EG Group will continue to operate in the USA, Australia, Germany, France, Italy, the Netherlands, Luxembourg and Belgium as well as 32 sites in the UK. Under the terms of the transaction, the company will also retain certain foodservice brands including Cooplands, its wholly owned bakery business, as well as franchise businesses with the Starbucks, KFC, Sbarro, Chaiiwala and Cinnabon brands. Zuber Issa, co-chief executive and co-founder of EG Group, said: “The sale of the majority of EG Group’s UK business to Asda represents an important strategic step for the company, enabling EG to support the continued roll out of its successful convenience retail, fuel and foodservice strategy and drive innovation to transform the consumer experience.” The EG Group acquired the then circa 70-strong Leon in 2021 in a deal which valued the business at circa £100m. It planned to open around 20 Leon sites per year from 2022. 

 

D&D London appoints former Byron CEO Gavin Cox as new CFO: D&D London, which operates circa 30 restaurants across the UK and internationally, has appointed Gavin Cox, formerly chief executive of Byron, as its new chief financial officer, Propel has learned. D&D said Cox comes with more than 15 years of board level experience in various leading roles in hospitality and food businesses. It said: “His track record encompasses successfully managing businesses through periods of substantial change, including high-growth and turnarounds, in both private equity and corporate settings, focusing on team leadership and business enhancement.” Cox joined Famously Proper, the then parent company of the Byron and Mother Clucker brands, as chief executive in summer 2021. He has also worked with companies such as Adelie Foods, McCambridge Group and Street Eats. D&D said Cox’s appointment underscores the company’s commitment to “maintaining financial strength and delivering outstanding dining experiences around the world”. David Loewi, chief executive and founder of D&D London, said: “Gavin’s extensive experience and dynamic leadership will be instrumental in shaping the financial strategies of our company. We look forward to his contributions to D&D London’s continued success.” Cox’s appointment follows the recent acquisition of D&D London by Calveton, the backer of Byron, and Breal Capital, which earlier this summer acquired Vinoteca, which has resulted in the business having a stronger balance sheet. Calveton and Breal bought D&D for £45,884,764. Breal and Calveton paid a cash consideration of £610,250,and £45,274,516 of secured debt owing to the senior lenders. 

 

Chopstix sees ‘50% uplift’ in sales from first Chozen Noodle conversions: Fast-growing, quick service restaurant brand Chopstix has said it has seen “exceptional results” for the first two Chozen Noodle sites it has converted to the Chopstix brand. The Jon Lake-led group acquired its competitor, the 27-strong Chozen Noodle, in March this year. The Beaconsfield Extra MSA Group store was the first to be converted, in July, with the Cobham Extra MSA site transitioning over to the Chopstix brand in October. The company said both sites are outperforming expectations, “delivering consistent growth with close to 50% uplift in sales post-conversion”. It said that integral to the success has been the brand’s long-standing relationship with motorway service area operator Extra, which now hosts seven Chopstix sites across its estate and has worked closely to implement a “highly impactful” relaunch strategy for the two locations. The former Chozen sites were the sole equity locations procured as part of the Chozen Noodle acquisition. In addition, Chopstix acquired all of Chozen’s other 25 sites in motorway service areas, which are managed through franchise agreements with Roadchef and Moto. Lake said: “The strong sales uptick we’ve seen at these sites since their conversion to Chopstix is highly encouraging and reflects how well the Chopstix brand preforms in busy food court and motorway service area locations, where we more than hold our own alongside the biggest quick service restaurant brands in the world. The conversions have been really well received by the teams on the ground, who have completely bought into the brand, and this has been really important to the strong trading we’ve seen. Given how well the Beaconsfield and Cobham sites have performed under the Chopstix brand, we feel there’s great opportunity to convert additional Chozen motorway service area sites to Chopstix, and we will be discussing this with our franchise partners over the next few months.”

 

Blank Street Coffee on track to reach profitability in London next year: US coffee chain Blank Street Coffee, which made its debut in Britain last July, has said it is on track to reach profitability in London next year and is looking to bring its loyalty service to the UK market. City AM reports the brand, which currently has 24 stores in London, hopes to push that number to over 30 within the next year. Its UK managing director, Ignacio Llado, told the newspaper that its Instagrammable layout and cheaper price point is what has made it a success so far in the capital. “The general coffee chain in London was dark, sometimes gloomy and too tired,” he said. A flat white or cappuccino at Blank Street is also about 20p to 30p cheaper than what punters pay at the likes of Pret A Manger or Starbucks. Blank Street said it is able to keep prices competitive by opening smaller locations of about 300 to 600 square feet. “We are able to optimise some part of the cost structure and transport that value back to the consumer,” Llado said. He remained quite tight-lipped about Blank Street’s turnover figures but said the firm is on track to reach profitability in London next year. Looking ahead, Blank Street Coffee said it is also looking to bring its loyalty service to the UK market. Similar to Pret, it is a membership scheme that gets customers discounts on coffee and pastries, retailing for $8.99 (£7.42) per week. Llado said: “We are designing this brand to be a daily ritual, not just to be a casual treat. We have raised the bar for the last few years.” Earlier this year, the company raised $20m (£16.7m) in a fundraising round from US investors. 

 

Wingers – we’ve ten more franchised sites in the pipeline: Buttermilk fried chicken restaurant concept Wingers has said it has ten more franchised outlets in the pipeline as it continues its growth. The business, which has ambitions to open 50 sites across the UK, officially launched as a franchise in August. Among the openings planned are in Shrewsbury, Nottingham and at Birmingham International train station. It comes as Wingers brings its marination process in-house “to ensure consistency of quality and maximise profits for franchisees”. Co-founder Amran Sunner said: “We recently opened our latest high street franchised restaurant in Aldridge, Birmingham. This has freed up our dark kitchen close by, so we have taken the opportunity to bring the marination process of our fresh chicken in-house.” The former dark kitchen and 5,000 square-foot unit in Aldridge also doubles as Wingers’ head office. The business opened its first site in 2020, in Lichfield, and now operates seven outlets. 

 

Southern multiple operator acquires fifth site as he diversifies into town suburbs following recruitment issues: Southern multiple operator Nick Warner has acquired his fifth pub as he diversifies his estate into town suburbs following recruitment problems. Warner has taken on the lease of the Heineken-owned Star Pubs & Bars site, the Penn Central in Poole, Dorset. The pub will be renamed the Bank by Nicholas James following a £355,000 joint refurbishment. Warner’s other hospitality sites are all premium and consist of three freehold and one leased – the Nicholas James café and bar in Ashley Cross; The Minster Arms in Wimborne; The Olive Tree in Romsey; and The Rose & Crown in Ascot. The Poole site is Warner’s first lease with Star Pubs & Bars. He started developing his portfolio of pubs, bars and restaurants 12 years ago. Prior to this, he was operations director for Aruba Group, then head of food and beverage for AFC Bournemouth. He said: “Up until recently I have been focused on country gastropubs. However, the issue of recruiting and retaining staff in a country environment has led me to diversify and move into town suburbs. It is easier to recruit and manage staff in a town. I opened Nicholas James café and bar in Ashley Cross in May and so know the local market and the talent pool. After a summer washout and two years of restrictions on festive trading, I am looking forward to a great Christmas ahead.” As part of the bar restaurant’s upgrade, a new seasonal menu is being launched. Star Pubs & Bars area manager Stephen McInerney said: “We’re delighted to be investing in Bank by Nicholas James to take it to the next level. Nick is a very experienced operator with detailed local knowledge.” 

 

BrewDog appoints James Taylor as new CFO: Scottish brewer and retailer BrewDog has appointed James Taylor, formerly of childcare provider Mayborn, as its new chief financial officer, Propel has learned. He replaces Niall McCallum, who is leaving the TSG Consumer Partners-backed business after three years as its chief financial officer. A BrewDog spokesperson told Propel: “Niall has decided now is the right time to leave BrewDog and seek a new challenge. Niall joined just before the second lockdown in October 2020 and has led the finance function through the most turbulent time in our sector’s history. Niall has led the development of the finance, IT and procurement teams during this time, and they are all geared up to continue to support and scale with the group as BrewDog continues to grow. Niall has been instrumental in the many great developments at BrewDog in the last three years and leaves with the full support and best wishes of the board and TSG. We are delighted James Taylor has joined us as our new chief financial officer. We are excited for James to join our team as we look to continue to evolve our business.” In August, Propel revealed BrewDog had appointed Chris Webb, formerly of the Azzurri Group and Cream Group, as the new global finance director of its bars division. Earlier this summer, BrewDog announced plans to expand its global bar estate, targeting 300 bars by 2030. The company currently operates more than 100 bars and hotels across the world.

 

One of Domino’s biggest UK franchisees sees profits and turnover fall, raises more than £20m: One of Domino’s biggest UK franchisees, Bansols Beta, saw its profits and turnover fall in the year to 25 December 2022. Its turnover dropped from £107,307,135 in 2021 to £101,364,698 while its pre-tax profit was down from £20,272,755 to £5,325,182. Ebitda was almost halved, from £23,762,865 to £12,188,923, as gross profit margin fell from 34.2% to 25.7%. Dividends of £2,920,200 were paid (2021: £6,025,000). Post year-end, in February 2023, the company raised more than £20m through the sale or part-sale of three subsidiaries. It sold 100% of the issued share capital in Sandy Lane Ventures for £6,162,129; 55% of the issued share capital in ML Ventures for £1,970,548; and 75% of the issued share capital in Third State Pizza Company for £12,198,989. Bansols Beta was founded in 1994 by Moonpal Grewal, whose personal wealth was placed at £240m in the 2022 Eastern Eye’s Asian Rich List.

 

Steakhouse group Touro to launch smaller format site in London’s Soho: London-based Brazilian steakhouse restaurant Touro is to open a smaller version of its concept,after securing a new site in the capital in Soho. The business, which currently operates three sites in London and one in Brighton, has secured the Moo Grill site at 99 Wardour Street, for a “more compact version of Touro, to trade as Touro Express Steakhouse”. The site was previously a Byron, and before that, the Intrepid Fox pub. Touro’s other restaurants in London are in Clapham Common, Kensal Green and Wimbledon. It is also set to open a further site in the capital, in Elephant and Castle. Sammy Weinbaum, of CDG Leisure, acted on the Wardour Street deal.

 

Amber Taverns acquires Caerphilly pub and hotel from Redcat, eyes further sites in region: Amber Taverns, the 165-strong, wet-led, freehold community pub operator, has acquired a Caerphilly pub and hotel from Redcat Pub Company, the investment vehicle founded and chaired by Rooney Anand. Christie & Co brokered the deal for the sale of Caerphilly Cwtch, which was formerly known as The Railway and is known locally for its live music and sports. Sam Frankland, property director at Amber Taverns, said: “We are currently carrying out a major refurbishment of the building and will be taking it back to its roots by renaming it The Railway. We plan to open in early December. The Railway will be Amber Taverns’ seventh pub in South Wales, and we hope to open more in the near future.”

 

Miscusi closes remaining UK site: Italian pasta concept Miscusi has closed its remaining UK site, in London’s Covent Garden. The brand launched here at the start of 2022 with an opening in Slingsby Place. Propel understands that this site is now closed and that liquidators have been appointed to Miscusi UK. Last October, the business closed its second site in the UK, in Islington, having opened on the former Masala Zone premises in Upper Street. Originally launched in Milan, Miscusi has 13 restaurants in seven Italian cities. Miscusi champions a Mediterranean diet, and the brand’s ethos is “rooted in respecting the planet through the power of food”. At the beginning of 2021, the business, which was founded by Alberto Cartasegna, secured a €20m investment from MIP, a venture capital fund, and the American fund Kitchen Fund, which includes SweetGreen as an investment.

 

Topgolf plans to open new domestic venues and develop pipeline of international franchise partner sites, with focus on Toptracer concept: Topgolf, the golf and entertainment brand, has said it plans to open new domestic venues and develop a pipeline of international franchise partner sites, with a particular focus on its Toptracer driving range concept. It comes after the company reported “growth across all revenue streams” in 2022, and despite making a loss, expects its investment strategy to “create a very strong business in the future”. President Benjamin Sharpe and vice-president Susana Acosta, in their statement accompanying the accounts for the year to 31 December 2022, said: “The company reported increased revenue of 47% in the year, with UK venues up by 21%. Toptracer range revenue was up 94% on last year and represents the drive to grow this business in both the UK and overseas. As the growth of Toptracer venues increase, continued investment in the business means there is another loss in the year. However, the directors believe this investment is fully aligned with the strategy and will create a very strong business in the future. The company has seen growth across all revenue streams in 2022 and will proceed with plans to open new domestic venues, develop a pipeline of further international franchise partner venues and continue to expand Toptracer to maintain the continued growth in revenue. Revenue from international franchise partners grew 86%.” The company’s revenue grew from £28,482,393 in 2021 to £41,885,637 while its pre-tax loss increased from £8,088,989 to £12,513,173. Of the 2022 turnover, £38,279,591 came from the UK (2021: £25,576,512) and £3,606,046 from the rest of the world (2021: £2,906,393). Further analysis shows £13,636,860 came from game sales (2021: £11,226,995), £12,342,136 from food and beverage sales (2021: £9,043,101), £8,638,508 from licensing fees (2021: £4,376,020) and £7,268,133 from royalty and equipment sales (2021: £3,837,020). No government grants were received compared with £1,253,548 in 2021. No dividends were paid (2021: nil). Post year-end, Topgolf acquired Watford Golf Driving Range Investments and Trading for £15m.

 

West London restaurant Julie’s to reopen as modern French brasserie after being acquired by Cordon Bleu trained chef: West London restaurant Julie’s is to reopen in the spring following its closure at the end of last year after being acquired by Cordon Bleu trained chef Tara MacBain. First opened in Holland Park in 1969 by interior designer Julie Hodges, Julie’s was a hit with famous actors, fashion icons, artists and royalty, remaining a stalwart of the capital’s hospitality scene until its closure on New Year’s Eve 2022. The reimagined restaurant, under the direction of MacBain, a Holland Park resident and long-standing Julie’s regular, will open as a modern French brasserie, offering 160 covers across a ground floor dining room and bar, basement dining area and alfresco terrace. A theatrical martini trolley will offer diners a customised cocktail experience at their table-side, while there will also be a wine list. MacBain said: “I feel so grateful for the opportunity to reimagine this iconic restaurant, especially one that is so close to my heart. Julie’s has become a West London institution and I look forward to continuing its legacy.”

 

Former EAT duo launch new sector recruitment business: Ed Grimes, formerly of Pret, EAT and Greggs, and Ed Godwin, ex-Monsoon, EAT and Carluccio’s, have launched a new recruitment business called Hospitality Talent UK (HTUK). The two worked together on the board of EAT between 2007 and 2017, as director of operations and people director respectively. They said HTUK draws upon a network of recruitment partners across seven countries, with more partners and countries being added all the time. HTUK said: “Any role that qualifies for the skilled worker visa can be recruited through HTUK, including all levels of management, chefs, bakers, patisserie chefs and other specialists. HTUK supports employers in obtaining a skilled worker sponsorship licence and candidates with obtaining a visa through its partnership with London law firm, Quastels. Employers play a flat fee per role, which does not increase with salary.” An early user of the business is London’s leading healthy-eating chain, Tossed, which has begun recruiting store managers through HTUK. Grimes said: “Having been involved in several hospitality start-ups since Brexit, I have first-hand experience of how difficult it is to recruit skilled hospitality professionals. Employers are having to pay over market rates to recruit staff, particularly chefs, and then having to increase the wages of their existing team to maintain morale or risk losing staff to competitors. It is simply not sustainable. HTUK is resolving this issue for hospitality employers by creating access to a global network of skilled talent who are ready to work in the UK.”

 

Spanish boutique hotel group acquires first UK site and plans more: Spanish boutique hotel group, Room Mate Hotels, has acquired its first UK site and is planning to bring more into its portfolio. It has bought the grade II-listed Lime Tree Hotel in London’s Belgravia, which has been owned and managed by Matt and Charlotte Goodsall since 2008. The 26 room-hotel features a private walled garden and an all-day café called The Buttery, offering brunch classics, savoury treats, home-made cakes and coffee from The Gentlemen Baristas. Room Mate founder and president Kike Sarasola said: “Lime Tree will help us strengthen the Room Mate brand overseas while also proving that we are a trusted player in this business model. It is our first point of entry in a country where we want to consolidate a presence and we want to continue growing in this market. We have been looking to open in the area for years and were waiting for the right address – we will continue to operate the hotel in its current guise.” Room Mate now has 23 hotels in 13 cities across five countries.

 

Sam Harrison confirms November opening for second Brentford launch of 2023: Sam Harrison has confirmed a November opening for his second Brentford launch of 2023. The restaurateur signed for two sites at The Brentford Project mixed-use development in west London last December – to launch all-day brasserie Sam’s Waterside alongside a third site for his Sam’s Larder concept. Sam’s Larder opened in the summer, and it will now be followed by Sam’s Waterside on Tuesday, 21 November. Harrison, who is opening the venture with business partner Fanny Stocker, will offer the same contemporary brasserie style of sister site Sam’s Riverside, in Hammersmith. Seasonal dishes will include crispy duck salad with watercress and persimmon; bass ceviche with avocado and chilli; chargrilled octopus with Dorset nduja and potato; and Cornish monkfish, gurnard and mussel stew. The bar will serve a full range of cocktails, beer and wine alongside a short menu of oysters, pork and shrimp burgers and smash cheeseburgers. There will also be an outdoor space opening in the spring. “Staying in west London for my businesses means we have a great many loyal customers who love what we do,” Harrison said. “Sam’s Waterside extends our reach a bit further west, into new neighbourhoods – and we’re proud that the initial reaction to coming to Brentford has been so incredibly positive.” Harrison also opened a new cafe called Sam’s Kitchen in Hammersmith earlier this year.

 

Investment firm acquires majority stake in Dean Hotel Group: London-based investment firm Lifestyle Hospitality Capital (LHC) has bought a majority stake in Irish hotel group Dean Hotel Group. Founder Paddy McKillen Jr and the McKillen Company are set to retain a stake in the Dean Hotel Group and will remain involved in the business, reports The Irish Independent. The value of the deal, which is backed by funds advised by Elliott Investment Management, was not disclosed. LHC, which was established this year, is a global investment management platform focused on lifestyle hospitality and operational real estate. The Dean Hotel Group, which was recently spun out from the Dublin-based Press-Up Hospitality Group, has eight properties with around 650 hotel rooms across the country. The group confirmed it will continue to manage and operate its locations across Ireland. The Dean brand also has three hotels operating in Ireland, with two more set to open in the UK in the next two years, including in Belfast. Restaurants and bars owned by the group will also continue to be operated internally. The group owns 30 establishments across Ireland, as well as six leisure facilities and a cinema. McKillen Jr said: “We are confident Dean Hotel Group will continue to thrive, as our partners at LHC both understand and embrace our distinctive Irish vision of hospitality that runs through the Dean Hotel Group portfolio.” LHC founder and chief executive Keith Evans added: “As experienced investors in this space, we were drawn to the exceptional collection of locally designed and curated hotels, bars and restaurants that Paddy and his team have developed.”