McWin in talks to up investment in Gail’s: McWin Capital Partners, the food investment firm led by Henry McGovern and Steven Winegar, is in talks to increase its stake in bakery brand Gail’s. Bloomberg reported that McWin, which also backs Big Mamma Group and Vapiano, is seeking to pre-empt a sale process for Gail’s. McWin is already a backer of the parent company of Gail’s alongside other investors including Bain Capital. Representatives for Gail’s and Bain Capital declined to comment. Spokespeople for McWin didn’t respond to queries. Last month, it emerged that Goldman Sachs had been brought in to sell Gail’s for a reported £500m. Last week, Tom Molnar, co-founder of Gail’s, said the circa 150-strong, fast-growing bakery brand is targeting £300m in sales next year, with plans to open another 30 to 40 bakeries. At the same time, Grain Topco, the parent company of Gail’s, saw its revenue for the year to 29 February 2024 climb 28% to £231,785,000.

Everards reports turnover up 4% to £36.2m but price rises ‘inevitable’ as result of Budget: Leicestershire brewer and retailer Everards has reported turnover increased 4% to £36.2m for the year ending 30 September 2024 compared with £34.7m the year before. Operating profit for the year of £2.7m was £0.5m or 21% higher than the prior year. The performance was driven by a 12% like-for-like profit contribution growth from the 151- strong pub estate, all of which are operated on a tenanted or managed partnership basis. Beer sales saw like-for-like growth of 9.5% supported by continued innovation in both cask and craft keg brands. The Beer Hall, managed centrally by Everards, based at Everards Meadows in Leicestershire, also performed strongly with net sales of £3.3m, delivering 5% growth on the prior year. The company invested £6.2m in both refurbishments and maintenance of pubs, which, alongside a reduction in debt and the de-risking of the pension scheme, “has further enhanced the balance sheet position”. This month sees Stephen Gould step down as managing director after 20 years where he will be succeeded by Andy Wilson, formerly managing director of Greene King Destination Pubs, who joined Everards earlier this year. Chairman Julian Everard said the impact of employer national insurance and national living wage changes from April 2025, along with the reduction in business rates support, “are being evaluated on a pub-by-pub basis, but will have a material impact on both pubs and Everards directly”. He added: “Mitigation will inevitably include price rises to customers, attempts to procure goods and services at better prices and general cost reductions – all factors that will negatively impact on the momentum Everards and our business owners have built during 2024.” Everard said pubs need a fundamental change to the business rates system and VAT parity with supermarkets and without such action the government “runs the risk of seriously (and in some cases terminally) damaging thousands of pubs across the country”. Referring to the board changes, Everard added: “Stephen has been an exceptional managing director for Everards and is respected not only by my family and the Everards team but across the pub and brewing industry. He has worked seamlessly with Andy this year to deliver a smooth transition. Stephen has an exciting next phase of his career planned and we are incredibly fortunate to retain Stephen's wisdom through his role as a non-executive with the company from January. I would also like to thank Nick Lloyd, as he retires from the board this month, for all his support to not just myself, but the family over the last 40-years as managing director and as a non-executive director. Nick has been instrumental in helping to shape the culture and identity of the business working with my father, Richard, and Stephen.” Everards features in the Propel Turnover & Profits Blue Book, the latest edition of which will be sent exclusively to Premium Club members on Friday (13 December) at 12pm and will feature 1,039 companies. Everards’ turnover of £36.2m is the 293rd highest in the 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.