Neat Burger COO Stasi Nychas steps down: Stasi Nychas has stepped down as chief operating officer of the Lewis Hamilton-backed plant-based concept Neat Burger. Nychas, who previously worked at Byron, co-founded Neat Burger and helped launch it in spring 2019. The business grew to eight sites in London, plus sites in New York, Dubai and Milan. Last November, Neat Burger, which is led by Zack Bishti, announced it was to close half of its eight-strong UK estate after seeing a “shift towards hybrid-work, leading to a natural decrease in footfall at some of our larger restaurants”. It subsequently closed its sites in Liverpool Street, Canary Wharf, Oxford Street and Westfield Stratford, leaving it with sites in Camden, Soho, Victoria and Wembley. Last month, the business said it was taking the first step in its brand evolution by rebranding as “Neat”, as it looks to evolve from “the occasional to the everyday”. Nychas said: “The past few years have been an amazing adventure- filled with highs, lows, and unforgettable experiences. Being able to build something from concept to reality, developing and adapting but most importantly making a positive impact globally. My journey has been nothing short of exhilarating: taking a nascent brand to one of the global leaders in plant based. It has been a privilege to have served hundreds of thousands their favourite meal daily whilst making a positive impact on health, environment and livestock. To the supporters of Neat, thank you for believing in the vision and for being part of my story. I have no doubt Neat will continue to thrive and make a positive impact in the world. I’m immensely grateful to every member of the team for their dedication, passion, and unwavering support. Together, we've achieved remarkable milestones and created something truly special. To name a few: Expanding Neat’s presence across Europe, UAE and the US; assembling an exceptional team around the globe; developed proprietary products sold in the likes of Soho House; secured eight-figure sums in funding to drive our mission forward; and won numerous awards including UK’s best vegan brand. I look forward to staying connected and supporting Neat as it continues to grow and evolve, and further revolutionise the plant-based category. I’m filled with gratitude for the lessons learned and the relationships formed. I’m excited about the opportunities that lie ahead, and there are some incredible new ventures which will be shared shortly. In the meantime, if anyone is looking for a NED to share some insight, get in touch. Here’s to new beginnings, endless possibilities and the journey ahead.”

 

Fever-Tree sees slight drop in UK sales but forecasts growth in year ahead: Fever-Tree, the premium tonic maker, saw a slight drop in its UK turnover in the year to 31 December 2023 but has forecast growth in the year ahead. Its UK revenue fell 1% from £116.2m in 2022 to £114.8m. Group gross margin was down 2% from £118.8m to £117m while adjusted Ebitda fell from £39.7m to £30.5m. The business said it remains a market leader in the UK with a circa 45% value share of the total mixer market. “The goup remains comfortable with consensus expectations of circa 10% growth for the Fever-Tree brand in the year ahead, with a continuation of strong double-digit growth in the US and a return to growth in the UK and rest of the world,” it said. Tim Warrillow, co-founder and chief executive of Fever-Tree, added: “2023 was a year when the Fever-Tree brand once again grew in breadth and depth, with market share gains across the globe. The G&T of course remains an integral growth driver for the group but 2023 was a year where we saw a step change in our non-Tonic portfolio. Not only have our gingers and sodas continued to see strong growth but the last 12 months have seen the launch of our range of cocktail mixers alongside the roll out of our adult soft drink range in the UK. Taken alongside softening inflationary pressures, the operational efficiencies we are delivering means I am confident that we are entering 2024 in a very strong position from an operational perspective and have an excellent platform for strong profitable growth going forward.”

 

Jonathan Kemp to step down as director at AG Barr: Jonathan Kemp is set to step down as director at drinks company AG Barr. He has advised the board that, owing to family health reasons, he will not seek re-election as a statutory director at its annual general meeting on 31 May and will retire as a director. In order to facilitate a smooth leadership transition, he will continue to lead the commercial function until 30 September and will remain available to the company as required for a further 12-month period. The business will commence a recruitment process in due course to identify a successor. Mark Allen, chair of AG Barr, said: “On behalf of the board, I would like to thank Jonathan for his significant contribution for over 20 years. As commercial director, he has been instrumental to the growth of the company, with the business in a strong position to continue to grow and develop. We wish him and his family all the very best for the future.” As previously reported, after nine years as a non-executive director, David Ritchie will also stand down from the board at the conclusion of the AGM and will be succeeded by Louise Smalley as remuneration committee Chair. “I would also like to thank David for his commitment and contribution to the business over many years,” Allen added. “The board has benefitted from his extensive knowledge and experience and wishes him well with his future endeavours.”

 

Coffee drinkers could face reduced supply and higher costs: Coffee drinkers could face a reduced supply of their favourite beverage and higher costs as climate change and disease is hitting supply, reports the Daily Mail. At the same time, environmental campaigners are calling for restrictions on coffee grown in countries where rainforests are illegally cut down. Environment Secretary Steve Barclay announced new legislation in December which will ban businesses from selling goods containing certain commodities sourced from land used illegally. But the rules did not include coffee – and campaigners have called for the beverage to be included. Such a change would follow the EU, where new rules will mean seven such products, including coffee, can no longer be sold in the bloc from December 30 this year, while the US is also developing similar legislation. Meanwhile, climate change is putting coffee production “in danger”, according to farmers in Colombia, which is a major exporter to the UK. Coffee farmers in the South American country’s Sierra Nevada mountain range say warming temperatures are forcing them to plant their crops on higher ground, while increasingly unpredictable rainfall cycles are affecting growth and harvesting logistics. Production in the area has shrunk by 35% in the last five years, according to the Latin American and Caribbean Fairtrade Network (CLAC). A government spokesman said: “The UK is leading the way globally with new legislation to tackle illegal deforestation to make sure we rid UK supply chains of products contributing to the destruction of these vital habitats. This legislation has already been introduced through the Environment Act and is just one of many measures to halt and reverse global forest loss. We are also investing in significant international programmes to restore forests, which have avoided over 410,000 hectares of deforestation to date alongside supporting new green finance streams.”