RedCat in talks to acquire 39 Greene King sites in £90m deal: RedCat Hospitality, the recently rebranded operator of Coaching Inn Group and RedCat Independent Pubs, is in talks to buy 39 sites from Greene King in a £90m deal. RedCat, which was established by former Greene King chief executive Rooney Anand during the covid pandemic, is in discussions to acquire the sites that operate under Greene King’s Venture Hotels arm. Propel understands Greene King’s pubs with rooms business does not form part of any discussion and will remain a core and valued part of the business alongside its pubs. RedCat, which is backed by the US investor Oaktree Capital Management, operates circa 100 sites, about a third of which operate under Coaching Inn Group. RedCat has about 1,400 bedrooms, making it the fourth-largest pubs-with-rooms operator in the UK. Richard Lewis, group chief executive of RedCat Hospitality, told Propel in March that after a period of stabilisation, the business is ready to return to the acquisition trail, with further additions to its room stock a particular focus. Founded and chaired by Anand, the business completed a £61m refinancing last year, giving “the stability required to invest for growth”. The refinancing of its current debt facilities comprised debt funding from Barclays Bank and further equity from the group’s existing investors, including funds managed by Oaktree Capital. A Greene King spokesperson told Propel: “We have made good progress with Venture Hotels over the last three years. However we are now looking at all investment options for this part of our business. This includes the possibility of different ownership.” Anand stepped down as Greene King's chief executive in 2019.
Premium Club subscribers to receive next UK Food & Beverage Franchisor Database on Friday: Premium Club subscribers will receive the next UK Food & Beverage Franchisor Database on Friday (16 May), at 12pm. The new database will feature ten new entries, for a total of 350 companies either franchising in the UK or looking to franchise here. The new entries include
Eat Pizza, Korea’s largest pizza brand with 100-plus outlets, which exhibited at last month's International Franchise Show at London’s ExCel, as it seeks partners with which to expand to the UK. They also include north east, New York-style pizza concept
Slice, which was founded in 2021 by Mark Milroy and Andy Smith, and has just begun to franchise. Premium Club subscribers also receive access to five other databases:
the Multi-Site Database, the New Openings Database, the Turnover & Profits Blue Book, the UK Food and Beverage Franchisee Database and
the Who's Who of UK Hospitality. All Premium Club subscribers will be offered a 20% discount on tickets to Propel paid-for events including the Operational Excellence Conference in July and discounts on specialist sector reports. Operators that are Premium Club subscribers are also able to send up to four members of staff to each of our four Multi-Club Conferences for free. Premium Club subscribers 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 subscribers 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 subscribers 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.
Guy Ritchie opens smokehouse restaurant at Dorset airfield: Film director Guy Ritchie has opened a smokehouse restaurant at his airfield on the Wiltshire-Dorset border. The restaurant – Lore of the Sky – takes inspiration from its sister pub in London’s Fitzrovia, Lore of the Land, with a Texan-inspired menu curated by head chef Alex Brown. The restaurant also sells a selection of draught beer, ale and cider from Dorset and Wiltshire breweries. Altitude, a locally brewed lager, has been created in-house to celebrate the airfield’s aviation legacy. Compton Abbas Airfield is a fully operational airfield, offering panoramic views over Shaftesbury. Visitors to the restaurant can watch Spitfires and vintage aircrafts take off and land throughout the day. There are also flying experiences available on-site and throughout the year the airfield hosts events that extend past the regular scheduled air shows. A spokesperson for the restaurant said: “With the legacy of Lore of the Land behind it and a deep connection to aviation heritage, Lore of the Sky is poised to become one of Dorset's favourite new dining destinations – where storied history, stunning views, and irresistible barbecue food come together for an unforgettable experience.” The airfield neighbours Ritchie's country estate in Tollard Royal, Wiltshire. The film director, who was previously married to pop superstar Madonna, took over the ownership and operation of Compton Abbas Airfield from the Hughes family in February 2023.
