Discover the strategies behind creating profitable brand extensions to capture new markets at Restaurant Marketer & Innovator, open for bookings: Discover the strategies behind creating profitable brand extensions to capture new markets at the Restaurant Marketer & Innovator European Summit. Morena Oliveira, marketing director at Lina Stores, will share how the brand has extended beyond its deli roots into restaurants, catering, branded product lines and bars. Restaurant Marketer & Innovator European Summit is returning for its seventh edition, and tickets are now on sale. The event is a partnership between Propel and Think Hospitality, aiming to build a community, promote the sharing of ideas, recognise talent and define the future of eating out. Bookings are now open for the two-day conference as the centrepiece of the January event series, taking place on 21 and 22 January at One Moorgate Place in London. The conference will focus on technology, marcomms strategies, proposition, brand building, the latest market insights, digital developments and diversification of revenue streams. It is designed for customer-focused chief executives, marketers, technology and innovation teams, as well as investors wanting to better understand the latest marketing, innovation and development opportunities to build market share and grow. For the full speaker schedule, click here. The pre-Christmas early-bird prices are as follows: a one-day ticket for operators is £295 plus VAT while a two-day ticket is £550 plus VAT. Supplier tickets are £395 plus VAT for one day and £700 plus VAT for two. Propel Premium Club members receive a 20% discount. To book, email kai.kirkman@propelinfo.com.

Carlsberg/Britvic deal receives clearance: Soft drink maker Britvic's proposed sale to Carlsberg has received the green light. A sale, which valued Britvic at approximately £3.3bn on a fully diluted basis and an implied enterprise value of about £4.1bn, was agreed in July, with completion expected in the first quarter of 2025. The deal was agreed by Britvic’s shareholders in August, and in October, the Competition and Markets Authority (CMA) launched a formal investigation into the deal. A statement from the companies released today (Tuesday, 17 December), said: “Carlsberg and Britvic are pleased to confirm that clearances from each of the European Commission and the CMA in respect of the acquisition have now been received. Therefore, Carlsberg and Britvic confirm that all regulatory conditions have now been satisfied. The acquisition remains subject to the court’s sanction of the scheme at the sanction court hearing, the delivery of a copy of the court order to the registrar of companies and the satisfaction (or, where applicable, waiver) of the remaining general conditions set out in Part III (of the scheme document. The sanction court hearing has been scheduled to take place on 15 January 2025 and, subject to the satisfaction (or, where applicable, waiver) of the remaining conditions, the scheme is expected to become effective on 16 January 2025. A further announcement will be made following the sanction court hearing to sanction the scheme.” The last day for dealings in, and for the registration or transfer of, Britvic shares, is January 16, with suspension of dealings in Britvic shares from 7.30am on 17 January. Payment of a special dividend will be made between 16 January and 20 January, and the cancellation of listing of Britvic shares will be made at 7.30am on 20 January. The long stop date is 15 July.

 

Somerset McDonald’s franchisee reports profit boost as revenue hits record £55.6m: McDonald’s franchisee Lambtrad, which operates 13 sites across Somerset, has reported turnover increased 9.9% to a record £55,632,420 for the year ending 31 December 2023 compared with £50,613,887 the previous year. Pre-tax profit was up to £1,887,443 from £1,159,682 the year before. Gross profit margin increased to 64.36% compared with 64.07% the year before and was “in line with expectations”. In his report accompanying the accounts, owner Tim Lamb stated: “As a result of the 2023 menu and marketing strategy, alongside the execution of incremental price rises, the company has seen increased sales growth as the company continues to operate against the backdrop of significant macroeconomic challenges. The rise in sales is predominately due to continued growth in delivery sales within our existing restaurants, alongside the acquisition of a new restaurant in November 2022. On a like-for-like basis with 11 stores open throughout both 2022 and 2023, sales rose by £525,000, an increase of approximately 1.18% The financial position of the company is healthy with the balance sheet showing net assets of £8.81m, an increase on the 2022 position of £8.03m. The company also plans to acquire more restaurants should the opportunity arise.” A dividend of £554,748 was paid (2022: £185,000). Lamb has been a McDonald’s franchisee since 2008 having previously been a regional field service manager with the business. He now employs almost 1,500 staff.

 

Lake District fitness and leisure business reports challenging start to new financial year, with slowdown in demand for accommodation: Lake District fitness and leisure business Langdale Leisure has reported a challenging start to its new financial year, with slowdown in demand for accommodation. The company operates two hotels, a spa, restaurant, inn and deli at the Langdale Estate, near Ambleside. In its accounts for the year ending 30 April 2024, director Joseph Longmuir said: “Unfortunately, the last three months of the 2023-24 financial year were significantly impacted by the pool hall closure for the roof replacement and solar panel installation. While closure has an obvious and direct impact on operating performance of these departments, it was the knock-on effect to the Brimstone and Langdale hotels that had a more significant impact on performance, with more than £186,000 in lost accommodation revenue alone, plus the related impact on demand for food and beverage. The first quarter of the new financial year has been challenging. There has been a slowdown in demand for accommodation nationally, on the back of nervousness over cost of living and direction of travel for the economy with the change of government. In addition, the poor weather has seen an increase in demand for overseas holidays rise significantly this summer. The new year is proving to be difficult and the weight of this is showing in some areas, but there is a sense of togetherness around the business and a determination to overcome the economic conditions and bring Langdale through yet more stormy waters.” Despite the challenges, the company’s turnover increased slightly from £10,208,660 in 2023 to £10,883,103. But a pre-tax profit of £45,156 in 2023 turned into a loss of £63,234. Grants of £220,000 were received compared with £155,833 in 2023. There was a loan reduction of £484,499, while two loans with Barclays are due to be refinanced in March 2026 and September 2027. A record level of discount (£161,546) was enjoyed by Owner Privilege Card holders and the company is also looking to reinstate its shareholder discount – suspended during covid to protect the balance sheet – should trading in the second half of the year indicate a recovery. Meanwhile, Longmuir is set to step down as chairman following five years in the role and will be replaced by Robert Crook. Longmuir, who has also served as a managing director and non-executive director, will remain an owner and shareholder.