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Tue 30th Jul 2024 - Propel Tuesday News Briefing |
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Story of the Day:Foodservice inflation drops for a full year but month-on-month rises return: Year-on-year inflation in the foodservice sector has fallen for 12 months in a row, the latest Foodservice Price Index (FPI) report from Prestige Purchasing and CGA by NIQ reveals. Inflation in June 2024 stood at 3.6%, a rate now considered normal for the industry, with 12 consecutive months of decline a welcome trend for both businesses and consumers, who have faced several years of historically high inflation, the report said. However, the Index also recorded month-on-month inflation of 1.3% in June, after a period of deflation or only fractional inflation. This is the largest increase in 12 months and a return to similar levels seen five months ago. This shift suggests that while the overall inflationary trend is encouraging, price fluctuations remain a challenge for the foodservice sector. Of the ten categories of the Foodservice Price Index, only vegetables remains in double-digit inflation, driven primarily by the potato market, where poor weather conditions have impacted 2023 crops and availability leading into the 2024 season. Adverse weather has also impacted other outdoor vegetables, causing delays in planting and poor availability during the seasonal crossover, and pushing up prices for carrots, onions and brassicas. More positively, two categories of the Index recorded year-on-year deflation to ease pricing pressures. Shaun Allen, Prestige Purchasing chief executive, said: “While the year-long trend of falling inflation is encouraging, the return to month-on-month increases serves as a reminder that the market remains volatile. Operators should remain vigilant and closely monitor price fluctuations to ensure their businesses are well-prepared for any future challenges.” Reuben Pullan, senior insight consultant at CGA by NIQ, added: “Twelve continuous months of decline in inflation have brought much-needed respite on the cost challenges that have besieged the foodservice sector lately. Along with an easing of some other input prices and consumers’ improving spending confidence, it builds optimism for a strong remainder of 2024, but a return to month-on-month inflation warns us that prices are likely to stay volatile for some time to come.”
Industry News:McCain Streets Ahead Programme empowers next generation of street food entrepreneurs: McCain Foodservice Solutions continues to champion new talent with its ground-breaking Streets Ahead Programme. Over the past two years, this initiative, powered by KERB+, has made a significant impact on the foodservice industry by supporting more than 200 participants from disadvantaged backgrounds, enhancing their skills, and providing the investment needed for entrepreneurs to launch their own street food businesses. Launched in 2022, Streets Ahead not only champions diversity but also encourages innovation and supports emerging trends in the food service sector. On 24 July 2024, the culmination of months of hard work was evident as seven passionate entrepreneurs presented their innovative street-food concepts to a panel from McCain and KERB+, vying for investments of up to £10,000 each. The panel was impressed by the range of culinary creativity on display, from Jamaican goat curry to Turkish Chee Borek. They were so inspired that they decided to invest into all seven ventures, marking a significant milestone in supporting cultural diversity and culinary innovation. With this recent round of investments, McCain has now contributed £204,000 to 26 new street-food operators, reinforcing its commitment to fostering innovation and building a vibrant foodservice community. Explore more about the Streets Ahead Programme and its inspiring entrepreneurs here. If you have a sponsored story you would like to see featured in this newsletter position, email paul.charity@propelinfo.com.
Oakman Group HR director Jill Scatchard to speak at Propel’s Talent & Training Conference, open for bookings with 20% discount on tickets for Premium Club members: Jill Scatchard, HR director at Oakman Group, will be among the speakers at Propel’s Talent & Training Conference. The all-day conference takes place on Tuesday, 1 October at One Moorgate Place in London and is open for bookings. The conference will showcase examples of outstanding people culture among companies within the sector and how the industry is attracting talent. Scatchard will discuss how the award-winning Oakman has kept its staff retention at an all-time high, how its ongoing efforts in six core pillars of engagement – reward and recognition, information sharing, empowerment, well-being, instilling pride and job satisfaction – continue to gain it recognition in the Sunday Times Best Places to Work list, and how ensuring it provides a positive workplace and commitment to the well-being of its team, pays dividends. For the full speaker schedule, click here. Tickets are £345 plus VAT for operators and £395 plus VAT for suppliers. Premium Club members get a 20% discount. Email: kai.kirkman@propelinfo.com to book places.
Premium Club members to receive new searchable and segmented New Openings Database next week: The next Propel New Openings Database will be sent to Premium Club members on Wednesday, 7 August, at noon. The database will show the details of 268 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 Club members will also receive a 11,881-word report on the 268 new additions to the database. The database includes new openings in the pub and bar sector such as The William Gladstone, Stonegate’s new Be At One pub; sing-along piano and cocktail bar Downstairs at Betty’s in Edinburgh; and The Waggon & Horses opening in Newmarket, Suffolk. Premium Club members also receive access to five other databases: the Multi-Site Database, in association with Virgate; the Turnover & Profits Blue Book; the UK Food and Beverage Franchisor Database; the UK Food and Beverage Franchisee Database and the Who’s Who of UK Hospitality. All Premium Clubs members will be offered a 20% discount on tickets to Propel paid-for events including the Talent and Training Conference (1 October), Restaurant Marketer and Innovator (two days in January 2025) and Excellence in Pub Retail (May 2025). Operators that are Premium Club members are also able to send up to four members of staff to each of our four Multi-Club Conferences for free. Premium Club members receive their daily Propel Info newsletter 11 hours earlier than standard subscribers, at 7pm the evening before. They also receive videos of presentations at eight Propel conference events two weeks after they are held. This represents around 100 videos of industry insight over the course of the year. Premium Club members will be sent a dedicated monthly newsletter that will highlight key updates in the sector and direct subscribers to all the vital content their membership offers. Premium Club members also receive exclusive opinion columns every Friday at 5pm, which include the thoughts of Propel group editor Mark Wingett and a host of industry leaders from across the sector. A Premium Club subscription costs an annual sum of £495 plus VAT for operators and £595 plus VAT for suppliers. Companies can now have an unlimited number of people receive access to Premium Club for a year for £995 plus VAT – whether they are an operator or supplier. Email kai.kirkman@propelinfo.com today to sign up.
UKHospitality – investing in growth more important than ever: UKHospitality has said investing in growth more important than ever, following the announcement of the new Labour government’s first Budget. Chancellor Rachel Reeves said the new government inherited a projected overspend of £22bn from the Conservatives, as she confirmed her first Budget will be held on 30 October. Allen Simpson, deputy chief executive of UKHospitality, said: “The chancellor’s announcement today makes investing in growth more important than ever. Our sector is well placed, with presence in communities across the UK, to help the new government get the economy moving, provide more people with jobs, invest in the future, and bring in the taxes needed. Hospitality is the right lever to pull because the effect is so quick and reaches the whole of the country. We hope the chancellor will deliver on the manifesto promises to back the sector’s growth.” Night Time Industries Association chief executive Michael Kill said while he is relieved the sector “for now remains unaffected”, the night-time economy remains extremely fragile. “Any abrupt changes in the upcoming budget, such as reductions in the current relief on business rates or increases in taxation, could have catastrophic consequences for our industry,” he said. “What we urgently need is a comprehensive budget that fosters stability and generates growth, considering the unique challenges faced by property-led businesses through business rates and cultural businesses through a potential new VAT cut.” Emma McClarkin, chief executive of the British Beer & Pub Association, called for a reduction in the cost of doing business. “During the election campaign, the chancellor highlighted the importance of supporting Britain’s beer and pub sector when she announced a five-point plan for pubs,” she said. “While the Treasury work out the details of how best to implement this critical reform, we need the chancellor to confirm that the vital 75% relief will be maintained so that one of the core cost components of doing business can be controlled. Likewise, to make sure that the price of a pint remains affordable, the chancellor needs to cut beer duty. We have also called on the chancellor to examine what the optimal VAT rate should be for pubs selling soft drinks and food as part of a fair and sustainable tax and regulatory framework.”
Uber Eats launches healthy eating pilot in Birmingham: Uber Eats has launched a healthy eating pilot in Birmingham, in partnership with the British Nutrition Foundation (BNF), to try to encourage people to make healthier choices when ordering via the platform. The pilot will involve six local restaurants which have worked with the BNF to develop healthier alternatives to popular menu items that will be included in their menus in a new "healthy eating" section. The section will include at least six dishes, including three mains, one starter, one side dish and one dessert. Examples of healthier dishes that are going to be offered include beetroot carpaccio, super fruit granola and fat free chicken tikka balti with no added sugar or salt. The BNF created specific criteria for the restaurants to follow, including the requirement to have no processed meat, to use wholegrain carbohydrates, and use healthy oils including rapeseed oil, olive oil or sunflower oil. The dessert option must contain at least 75% fruit. Matthew Price, Uber Eats general manager, UK, Ireland and Northern Europe said: “At Uber Eats, we know it’s not always easy for smaller restaurants to offer healthy options, especially when they’re unsure if customers really want them. This pilot is not about your local curry house swapping out a balti for a salad, but using different cooking methods and ingredients to make that curry healthier and seeing how the customer reacts. My ambition is that we can use findings here to help other restaurants offer healthier options, while ensuring they continue to grow their business with us.”
Job of the day: COREcruitment is working with a hospitality company in South Wales that is seeking an operations manager to lead and innovate its business. A COREcruitment spokesperson said: “This role involves developing new standard operating procedures, driving sales and collaborating closely with the owner. You will thrive in an energetic environment, be dedicated to the role, and be eager to design and implement team training sessions. The ideal candidate will have experience managing high-volume sites and multi-site management expertise. You should add value to the business by aiding in the search for new locations and repositioning new acquisitions. A passion for the hospitality industry is essential, along with a strategic mindset. Experience in the late-night sector is a must.” The salary is up to £75,000. For more information, email stuart@corecruitment.com.
Company News:McDonald’s CEO – the QSR sector has meaningfully slowed in the majority of our markets: Chris
Kempczinski, chief executive of McDonald’s, has said that the QSR
sector has “meaningfully slowed in the majority of our markets” and that
it was “clear that our value leadership gap has recently shrunk”.
Kempczinski was speaking after the brand reported its global
like-for-like sales fell 1% in its second quarter ending 30 June 2024 –
the first time sales have fallen since the last quarter of 2020. He
said: “Beginning last year, we warned of a more discriminating consumer,
particularly among lower-income households. And as this year
progressed, those pressures have deepened and broadened. The QSR sector
has meaningfully slowed in the majority of our markets and industry
traffic has declined in major markets like the US, Australia, Canada and
Germany. In several markets, we also continue to be negatively impacted
by the war in the Middle East. These external pressures certainly
weighed on our performance for the quarter, with declines in comparable
sales globally and across each of our segments. But there were also
factors within our control that contributed to our underperformance,
most notably our value execution. The hallmark of a great company is its
ability to perform in good times and in bad, and we are resolved to
reignite share growth in all our major markets, regardless of the
prevailing market conditions. This won’t happen overnight, but it will
happen. We recognise that in several large markets, including the US, we
have an opportunity to improve our value execution. Consumers still
recognise us as the value leader versus our key competitors, but it’s
clear that our value leadership gap has recently shrunk. We are working
to fix that with pace. In some markets like Germany, Spain and Poland,
the flexibility of their value programmes like McSmart have allowed them
to quickly make adjustments that were embraced by consumers and drove
market share gains. In other markets like the US, with their $1 $2 $3
value program, a more comprehensive rethink has been required.”
Kempczinski said the pressure on spending was most pronounced with
low-income consumers, but “we’re also seeing an impact with larger
groups, particularly around families in Europe”. McDonald's was also
positive about the response to its $5 meal deal in the US, which it said
was producing sales above expectations. The company said 93% of its
restaurants have committed to extending the deal. Ian Borden, McDonald’s
global chief financial officer, said: “I think we’re confident that if
we get our value and affordability propositions right, if we get them
into that winning position in each marketplace, that will encourage
consumers to come back when they can. I’ll use the UK as a bit of an
example, that ran a campaign in the end of May, beginning of June, a 3
for £3 mix and match campaign. They also have done a £1.99 Happy Meal
offer in the app. When we run compelling affordable options like that,
we know we’re able to draw consumers back and we know we are best
positioned to be able to do that. So that’s certainly what we’re focused
on.”
Parogon Group lfl sales up 3.5%, FY sales reach £24m, joins B Corp community: Parogon Group, the award-winning premium gastropub operator led by Richard Colclough, has reported total group sales of £24 for the 12 months to 30 June 2024, a 10.9% increase compared to 2023. The ten-strong company said like-for-like sales rose by 3.5%, outperforming competitors over the last eight months. Group Ebitda before pre-opening costs reached £1.9m during the 12 months to 30 June 2024, up £700,000 from last year, and site-level profits grew to £4.6m, an increase of £1.2m. The company's operating margins improved by 1.5%, supported by a significant capital investment of £3.1m into various projects. The group said that during the period, its expansion continued successfully with the opening of its tenth site – the Orange Tree in Congleton, averaging £50,000 weekly sales post-launch. The business re-iterated that a key focus was the expansion of its Willow brand, the Mediterranean-inspired restaurant concept it launched in Trentham Shopping Village, Staffordshire, in 2021. It said that Willow Trentham had an “exceptional year”, growing covers by 3.6% despite guests feeling cost of living pressures. The company’s Willow Telford site is set to open in September, with additional locations currently in the legal stages. The group said its expansion is supported by strong cash flow and a “robust financial foundation”. Speaking to Propel last month, Colclough said that Willow has “true scalable potential”, helping to unlock faster growth for Parogon over the coming years with a variety of units suitable for conversion. He said the business expects to have a third Willow site open before the end of the year, which will push turnover beyond £30m. Colclough, managing director and co-founder of Parogon Group, said: “Despite a challenging economic environment, I’m delighted that Parogon has had a successful year, growing our sales and adding a new site to our portfolio. Our team’s dedication and our loyal guests have been key to our success. The foundations we’ve laid this year will help us open new sites more rapidly. We’re excited about the future and optimistic about continued growth, especially if economic conditions improve.” The company told Propel that it is “well-financed to deliver our business plan including the planned Willow expansion”. Parogon Group said it joined the B Corp community in June and retained its three-star Best Companies rating, with staff turnover decreasing by 17%. The company also saw its net promoter scores improve by 3.3%, reaching 83% for the year.
Archie’s in talks on international opening, plans two to three openings a year: North west burger, shakes and waffles concept Archie’s has told Propel it is in talks to take the brand to the Middle East. The company, which was founded in 2010 and currently operates sites under its eponymous brand in Manchester, Birmingham, Leeds and Liverpool, said it is currently in talks with a partner in the UAE to take the brand to the region. The company told Propel: “We are always looking for new sites within the UK. We are aiming to open two to three sites per year for the next five years. We are also currently in talks with a UAE partner to take the brand to the Middle East.” The company is to invest £3m in the opening of Atomic, its new roller-skating concept, which is set to open later this autumn in Manchester. Archie’s Atomic, located in Trafford Palazzo in the former Next site, will occupy a 25,000 square-foot space which will include a 5,000 square-foot roller rink. When asked what role the Atomic concept will play in the group’s expansion plans, it said: “Archie's has a few models for the way we work. For example, we have Archie’s kiosks, take away units and restaurants (varying from 60 – 250 seats), and now with the introduction of Archie's Atomic this will be our entry point into the leisure industry.” Beyond the introduction of the north west’s largest roller rink, the debut Atomic venue will also feature an arcade area with an immersive games box, private party rooms, DJ decks, an Archie’s diner and Archie’s milkshake bar.
Three Uncles – we are in a unique position to fill the huge gap to be the UK’s first branded Cantonese chain: Three Uncles has told Propel that it recognises there is huge potential outside the capital for the business and that is in a unique position to possibly become the UK’s first branded Cantonese chain. The Cantonese roast meat concept, which was founded by childhood friends and chefs Cheong Yew, Pui Sing Tsang and Mo Kwok in 2019, plans to open two to three sites annually, as it lines up the opening of its largest site to date, in Ealing, this September. Chong Yew (Uncle Lim) told Propel: “We launched in August 2019 with Liverpool Street, and the pandemic slowed us down, but we have opened one per year since 2021: Camden, Brixton, St Paul’s and now Ealing. Our current expansion plan for London is to open two to three shops every year. We have set a goal of ten sites. I can share with you that we are in the final negotiations for one central London site and early negotiations for a grab-and-go site similar to our Liverpool Street site. I can exclusively tell you that we have our eye on Victoria and are focusing our site search in this area. Our focus for this immediate goal of ten is for London only, but yes, there is potential to take it out of the capital, and we will consider it more seriously once we get closer to reaching our ten-site goal. We recognise there is huge potential outside the capital, including exploring the franchise model. Cantonese is probably the only familiar cuisine that is not represented by a national chain. We are in a unique position to fill this huge gap in the market. Could we see Three Uncles as the UK’s first branded Cantonese chain? Quite possibly.” The company said that the new 50-cover, 1,450 square-foot restaurant, located in Ealing’s Filmworks development, will see the company launch its new “18-Districts” concept, a rotating menu that introduces Hong Kong’s favourite dishes as specials, in addition to house-roasted and chopped-to-order Cantonese meats. It comes as the company said business has generally improved steadily since covid and year-on-year, with sales growing 20% on average across all sites.
Upham Inns sees 7% lfl sales growth, sells Surrey pub to Brakspear: Upham Inns, the Hampshire-based operator, has told Propel that it has started its new financial year “very strongly”, with like-for-like sales growth of over 7% for the year to date. It comes as the business has sold The Swan in Chiddingfold, Surrey, to the Henley-based Brakspear. Propel understands that the circa 125-strong Brakspear plans to operate the business in its tenanted division. The disposal leaves Upham with 14 sites. Upham operates pubs with rooms across southern England including village inns in affluent rural locations and Harpers Steakhouse concept in suburban locations. The company, which is chaired by Kevin Todd, told Propel: “Upham Inns have sustained a strong business turnaround in the past three years and have a strong portfolio of premium country pubs with rooms across Southern England. The sale of the Swan enables us to focus our efforts into higher performing businesses with more growth potential. We have started our new financial year very strongly, enjoying over 7% like for like sales growth year to date. We continue to explore further growth opportunities, and are well placed for expansion as the market continues to improve.” In February, Upham told Propel that like-for-like sales in its current financial year to date were up 3.9%, as it said it “remains in discussions with a number of potential investor partners.” The then 15-strong business said that for the year ended 31 March 2023, it recorded a pub Ebitda of £2.258m and a group Ebitda of £1.118m.
Sir Tim Martin sells just over £10m worth of shares in JDW: Sir Tim Martin, the founder and chairman of JD Wetherspoon, has sold just over £10m worth of shares in the pub company. He sold 1,361,000 shares in the company at a price of £7.39 per share on 26 July, raising £10,057,790 in the process. The sale reduced his stake in the business he founded in 1979 to 24.58%, or 30,382,253 shares. Shares in Wetherspoon fell 2.6% to 730p today following the announcement. Earlier this month, the company said its like-for-like sales have increased by 5.8% in the ten weeks to 7 July 2024, compared to the same period last year, while year-to-date like-for-like sales have increased by 7.7%. In a trading update, the company said it has signed a new four-year £840m banking agreement “on attractive terms” and estimates its net debt will be approximately £670m at the financial year-end.
Mark Warburton secures Birmingham site for steak concept, brings to an end 40 years of The OHH Pub Company: Entrepreneur Mark Warburton has secured a site in Birmingham for his restaurant concept The Cow & Sow and brought to an end 40 years of west country operator The OHH Pub Company. Warburton launched Cow & Sow in the former Graze restaurant site in Bristol’s Queens Square last year and followed that with an opening in the former Cowshed premises in Whiteladies Road in the city. Now the concept is to join the Paradise development in Birmingham. Set to open in late 2024, Cow & Sow will become part of the line-up at One Chamberlain Square. “Our team has worked tirelessly to bring Cow & Sow to Birmingham,” said Warburton. “The Paradise location is a dream come true and we look forward to bringing a new era of steak restaurant to Birmingham.” Meanwhile, Warburton has brought OHH to an end after selling his last remaining site – The Bear & Swan in Chew Magna. The pub has been bought by Connor Beazer, who was previously operations manager at OHH, and at the end of last year, took over the running of The Old House at Home in the Cotswolds village of Burton before taking up the option to acquire the freehold from OHH. Warburton said: “It is both an honour and a bittersweet moment for me to announce that Connor, a valued member of the OHH family, has taken the reins of this cherished establishment after 11 years in Chew Magna. I am proud to see that Connor’s new business, CB Pub Company, is doing so brilliantly in Burton, and I am extremely excited to continue to assist him on this next part of his business journey. I am confident that my late father, who played a pivotal role in establishing the OHH legacy, would be proud knowing that I have ensured the remaining businesses will remain in extremely safe hands. While it’s ‘over and out’ from OHH, my focus will be ramping up on Cow & Sow.”
Peter Pizzeria plans five further openings: The team behind independent Leicestershire pizzeria concept Peter Pizzeria has told Propel it plans to grow the brand by a further five sites across the next three years. The company, which also operates coffee shop concept Public & Plants, will open a third Peter Pizzeria site in Nottingham this summer. Located in Pepper Street, the 2,500 square-foot site will launch in August. It marks the business’ first location outside Leicestershire and follows Peter Pizzeria's sites in Loughborough and Leicester, which the company said have both built a “cult following since opening more than a decade ago”. The business has now told Propel it is working on its pipeline to grow the brand by a further five sites across the next three years. The company said: “We are currently exploring opportunities across several major cities, destination locations within buildings that are unique and full of character.”
Heartwood Collection acquires north London pub from Marston’s: Heartwood Collection, the Alchemy Partners-backed business, has added to its North London opening pipeline with the acquisition of The Woodman, in Palmers Green, from Marston’s. The acquisition will see the pub undergo a multi-million-pound refurbishment to create 150 internal covers with a further 60 external covers. Originally two adjoining cottages built in 1727, the historic pub is reputed to have one of the smallest bars in England. The acquisition of The Woodman, expected to reopen in the summer of 2025, joins the company’s acquisitions of The Royal Forest in Epping Forest and The Prince of Wales in East Barnet and continues its ambitious plan to grow to over 60 sites with a turnover of £133m by 2027. It also joins four sites already confirmed by Heartwood to open in 2025. Richard Ferrier, chief executive of Heartwood Collection, said: “We’re delighted to have been able to acquire this charming pub which has clearly been central to and much loved by the local community for so long. We have been looking at The Woodman for a number of years and feel it will make an outstanding Heartwood Inn.” Last week, the company opened its second pub with rooms – The Ropemaker in Emsworth, Hampshire – and has three further locations confirmed to open in 2024, in line with its plan to grow to more than 60 sites and in excess of 500 bedrooms by 2027. Heartwood currently operates 25 Heartwood Inns pubs and 14 Brasserie Blanc restaurants across the UK.
Hertfordshire pub operator aiming to double in size as it acquires fourth site: Hertfordshire operator Fishermann Pub Group is aiming to double in size after acquiring its fourth site. The company has taken on the lease of The Bull in Whitwell – its third pub with Heineken-owned Star Pubs. The only pub in the village, it closes this week for a joint £260,000 refurbishment to upgrade it into a “premium local”. The revamp of the grade II listed pub, that dates to the 1600s, includes a makeover of the garden that will have seating for 92 customers and six-seater pods. Inside, the pub will have a traditional bar, a snug seating 12, a lounge with an open fire and a games area that shows live sport. Other improvements include a kitchen refit to enable the pub to increase sales of its home-cooked food. Fishermann is looking for further leased pubs in Hertfordshire, focusing on premium locals with parking and gardens that can sustain a range of income streams, such as food, sport and events. Group co-founder Pete Mann said: “For all the doom and gloom in the mainstream media, we’re confident about expanding. In our experience, if pubgoers are getting quality and value, they still come out and don’t mind paying more for something good. You’ve got to move with the times though and keep changing your offer; you can’t afford to stand still. It makes investment from pub companies and licensees vital – you have to spend to get the returns. Leased pubs are the only option for smaller operators in Hertfordshire now. On the rare occasions an attractive freehold pub comes on the market, it’s snapped up by investors.” Matt Cornwell, investment manager for Star Pubs, added: “Having turned round other struggling pubs in Hertfordshire, Fishermann have a proven track record. The Bull will be a fantastic local for villagers providing great food and drink on their doorsteps.” Fishermann’s other pubs are The Engineer in Harpenden, The Rose & Crown in Welwyn and The Beehive in St Albans.
Family-owned bakery set to open new branch in Egham: Independent, family-owned bakery and retailer, Cavan Bakery, is set to open a new branch, in Egham, Surrey. The business, which currently has 15 sites spread across Surrey and south west London, is gearing up to open in Egham High Street, reports Surrey Live. Cavan, which was founded in 1929 by David Cavan, with its first shop opening in Twickenham, has not yet given an opening date for the new location. Last year, the business secured a £1.5m funding package from Lloyds Bank to aid its expansion and moved into a new 15,000 square-foot, purpose-built baking facility in Walton-on-Thames.
Latin dessert concept launches franchise programme as it prepares to open fifth site: Latin dessert concept Churros Locos has launched a franchise programme as it prepares to open its fifth site. The company, which already has locations in Milton Keynes, Manchester, Derby and Peterborough, is set to open in Leeds in September, with the exact location not yet confirmed. Churros Locus is seeking owner operators, area developers and existing desert and snack businesses looking to scale up, with exclusive territories being offered. Packages are available for a one-off franchise fee of £9,995, with fixed weekly royalty fees and monthly marketing fees. Instillation and build is expected to cost in the region of £80,000-£90,000 and franchisees are expected to have access to at least 50% of total investment costs in liquid funds. “Delighted to share an amazing opportunity to own a Churros Locos kiosk franchise in the Touchwood shopping centre in the Midlands,” said franchise consultant Paul Tough. “Churros Locus is in demand in these high footfall locations and this is a great opportunity to join our franchise programme. With Leeds opening in September, our franchise programme is really on the move as we spread our wings across the UK.”
Family-run Kent group acquires Shepherd Neame pub for fourth site: Family-run Kent pub group Contemporary Pubs has added a fourth site to its estate. The company, founded by husband-and-wife team Will and Nadine Sheldon in 2019, has bought the King’s Head in the village of Wye from brewer and retailer Shepherd Neame. Contemporary Pubs said the purchase fits well within its existing portfolio as it could offer “quality” overnight accommodation, as has been created at the Marquis of Granby in Alkham. Each of the pubs offers “gastro-food with a twist”, serving locally sourced food, beer and wine, in historic village settings. Will Sheldon said: “We love pubs and recognise the positive role they play in communities across Kent. The purchase of the King’s Head demonstrates our commercial confidence in the future of village pubs and our team. We sensitively breathe life back into pubs, and once again make them great places to spend time eating and drinking with friends and family.” Contemporary Pubs is also behind the Kings Arms in Elham and The Tiger Inn in Stowting.
M&B to exit All Bar One site on Brighton Pavilion: Mitchells & Butlers, the All Bar One, O’Neills and Harvester operator, is preparing to exit its All Bar One site on Brighton Pavilion. Agent Fleurets has been instructed to market 2-3 Pavilion Buildings in the city, comprising a bar/restaurant with offices above totalling 11,580 square feet, arranged over a basement, ground and two upper floors. It has been brought to the market as a long leasehold opportunity with 114 years remaining, and is also being offered on a new free of tie lease at a guide rent of £150,000 per annum. The first floor offices are held on a lease to global consultancy company Techopolis, which is paying a rent of £42,000 per annum and is holding over as the lease expired in March 2024. The second-floor offices are vacant and are on the market, while a new free of tie lease for the ground floor and basement unit can be granted. Elysia Wilson-Gunn, divisional director of Fleurets, said: “Our clients have a long leasehold interest from 1 May 2013 on a 125 lease, from Brighton & Hove City Council. Mitchells & Butlers are the current tenants of the ground floor and basement but are vacating on 28 September 2024. Then the whole building can be acquired with vacant possession, for £2.65m, including 14 car parking spaces.”
Iberica launches retail range with Sainsbury’s: Spanish restaurant group Iberica – which operates four restaurants in London and Leeds – has launched an exclusive delicatessen retail range with Sainsbury’s. The new range will be available in selected Sainsbury’s stores, and on its website, from tomorrow (Wednesday, 31 July). It includes a variety of carefully sourced and crafted products such as artisanal cheese, 100% Ibérico jamón and chorizo and cured meat. Marcos Fernandez Pardo, chief executive of Ibérica Restaurants, said: “This partnership allows us to share our passion for authentic Spanish cuisine with a wider audience, providing it with high-quality products that reflect the true flavours of Spain. For 15 years, led by Michelin-starred chef Nacho Manzano, we have redefined Spanish cuisine in the UK, and now customers can experience the quality that have made us a staple in the sector.” Jamie Brooker, head of sales and marketing at Ibérica Restaurants, added: “After just over two years of development, this collaboration marks a significant milestone for us as we extend our passion for Spanish cuisine beyond our restaurants and into homes across the country.”
Tofu Vegan to open fourth site: Tofu Vegan, the London concept from Zhang Chao, of Xi’an Impression, is to open its fourth site, in Fitzrovia. The concept is launching in the former Dim T premises in Charlotte Street, reports Hot Dinners. The plant-based restaurant concept has a menu that takes its influences from all over China, with dishes including Cantonese sweet and sour chik'n and deep-fried tofu and mushroom balls. Chao launched the concept in Islington in 2021 and it also has sites in Golders Green and Spitalfields.
Husband and wife team partner with MJMK to open debut site this autumn: Husband and wife team, John and Desiree Chantarasak will open their debut site this autumn, in partnership with MJMK Restaurants. Following on from a number of pop-ups and residencies, the pair will be bringing their take on Thai-British cuisine to their first bricks-and-mortar site in Seymour Place in London’s Marylebone in October. John Chantarasak will serve his personal interpretation of Thai cuisine, drawing inspiration from both his Thai and British heritage. The food will be complemented by a European wine selection “that focuses on Desiree’s passion for excellent wine grower craftsmanship”. There will be 50 covers in the main restaurant, and later in the year, “Baan”, named after the Thai word for home, will provide a private dining space. Founded in 2018 by Jake Kasumov and Marco Mendes, MJMK opened its debut site, Casa do Frango, in London Bridge. Since then, the group has launched Kol with Santiago Lastra, Lisboeta with Nuno Mendes, and a further three Casa do Frango sites. MJMK is also launching Fonda with Lastra in Mayfair in September.
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