05/09/2017
C&C set to purchase 47% share in Admiral Taverns
Eat Out Magazine has reported that C&C Group plc, an Irish drinks company who owns Tennants and Magners, is set to purchase a 47% stake in Admiral Taverns. The remainder of the shares are being purchased by Proprium Capital Partners, a property investment company. C&C's £37 million investment has partly purchased a portion of the 845 mainly wet-led pub estate. Whilst the Admiral chief executive Kevin Georgel will continue to lead the business, this transaction marks C&C's first step into the UK pub market.
Chequers Hotel acquired by Nine Group
The Chequers Hotel in Horley fell into administration in November 2013. After four years in decline the site has been acquired in an off-market deal. Previously owned by the Menzies Hotel Group, the hotel has been acquired by the hotel and investment company Nine Group. Boutique Hotelier reported the hotel will receive an extensive renovation and will be operated by an international hotel company.
Flank to launch London site
Chef Tom Griffiths launched Flank in 2015 as a Brighton pop-up. Taking pride in sourcing quality ingredients as well as utilising nose-to-tail cooking, The Caterer has reported that a new permanent site is set to launch in East London. The venue is set to open on 9th October.
New site for Castle Rock
Pub and Bar has announced that Castle Rock, a Nottingham pub and brewing company, will open a new site in September. The pub was previously known as The Peggers Inn, which opened in 1833, however the Southwell premises will be rebranded as The Fox and Grapes and will open on the 7th September, marking Castle Rock's 23rd site. Furthermore, Castle Rock alongside CGC Event Caterers have been appointed to operate the offering within Nottingham's Theatre Royal & Royal Concert Hall. The venues have undergone a £3.3m refurbishment and are set to open at the end of September.
Business Growth Fund invests £3.5m in Filmore & Union
The Business Growth Fund has invested £3.5m in Filmore & Union according to The Caterer. The Restaurant and deli chain currently has an estate of 14 sites across Yorkshire and Newcastle, as well as a concession which opened in John Lewis in June this year. Generating revenue of more than £6m, the additional £3.5m investment will fund the chain's expansion across the North as well as the Midlands.
And Finally...
The Tourism Vision for London has announced its new intentions for London tourism. Backed by Sadiq Khan as well as more than one hundred industry partners, the intention is to increase London's reputation as a world-class destination. Paul Charity at Propel Info has reported that the suggestion is for tourism figures in London to increase 30% by 2025 to over 40 million a year with a £22bn predicted spend.