08/10/2024 09:58:00
The private equity firm which backs Big Table Group has acquired pub group Amber Taverns for an undisclosed sum reports The Caterer. Amber Taverns, founded in 2005 by chief executive James Baer, now operates 178 freehold, wet-led pubs, predominantly in the north of England, the Midlands, Scotland and Wales. It has grown consistently by offering customers premium live sports coverage and entertainment such as live music, karaoke and sports including interactive darts. Baer said the deal was a "vote of confidence not just in Amber but in the sector as a whole. Among the selling shareholders is Michael George of the mid-market private equity firm MxP, who is also a founding shareholder of Amber Taverns.
Whitbread has secured planning permission from Westminster City Council to develop a hotel at 5 Strand in central London. The £200m+ investment underlines the company's commitment to the hub by Premier Inn brand. The 693-bedroom hotel, which will be one of London's largest budget hotels when it opens, will be operated under the hub by Premier Inn brand advises Hotel Owner. The consented 16,000 sq metre hotel will be set over thirteen storeys. Whitbread acquired the development site freehold as part of its strategy to expand its presence in the popular London market.
JD Wetherspoon (JDW) saw total sales soar to £2bn in the FY24, an increase of 5.7% compared with the previous 12 months reports the Morning Advertiser. Like-for-like (LFL) sales increased by 7.6% against FY23, with bar sales up by 8.9%, food sales by 5.6% and a 10.8% rise in slot & fruit machine sales alongside a 2.7% uptick in hotel room sales. The firm detailed LFL sales for the 52-week period, ending 28 July 2024, had been stronger than total sales due to a "small number" of pub disposals and lease terminations. During the 12-month period, JDW sold eighteen pubs and terminated the lease of an additional nine loss-making pubs, which gave rise to cash inflow of £8.9m. The pub giant opened two pubs during the financial year, the Star Light at Heathrow Airport and The Captain Flinders, close to Euston station in London. It also completed expansions and renovations at a number of sites.
Burger & Lobster is continuing to search for new UK sites both in and outside of London, says The Caterer. The group, which runs 18 global restaurants and nine in London, said it was "setting its sights on UK expansion". It follows a positive year for the business, which saw pre-tax earnings rise 59% to £3.5m in 2023 with like-for-like growth of 9%. Group turnover was flat at £36.1m, compared to £36.5m in 2022. Burger & Lobster's global portfolio includes restaurants in Singapore, New York, Kuwait City, Malaysia, Bangkok, Qatar and the Philippines.
Gourmet Burger Kitchen (GBK) has achieved £96.2m in turnover for the year ended 31 December 2023 advises MCA Insight. The Boparan Restaurant Group-owned burger chain increased turnover from £49.5m in 2022, after transferring a number of Slim Chickens and Carluccio's branded sites from other parts of the group. According to accounts, it acquired the trade and assets of nine Ed's Easy Diner-branded sites and nine Slim Chickens-branded sites from Giraffe, as well as 23 Carluccio's branded sites. GBK further reported underlying adjusted EBITDAR of £8.4m, up from £3.3m the previous year. The company will look to expand at a sustainable rate, "with restaurants suitable for the environment continuing in its ethos of evolution, innovation and creativity," according to the accounts.
Mexican brand Boojum is continuing its push across England since its acquisition by Azzurri Group with a third UK mainland restaurant on the cards. Following the opening of its Leeds and Nottingham sites, the brand will open a restaurant in Birmingham later this autumn advises Restaurant Online. When it opens, it will be the brand's third UK mainland restaurant in six months and is part of Boojum's plans to open 25 new restaurants over the next five years, primarily in university towns and cities. Established in 2007 in Belfast, Boojum has 18 sites across the UK and Ireland. It was acquired by Azzurri Group in June last year and made its England debut early this year with an opening in Leeds.
Uber has launched London's first 'carbon-negative pub,' a pop-up named The 55k Tonnes, open from October 7-9. Guests can generate electricity while 'sipping a beer in the saddle,' reports The Standard. The pub has carbon-neutral brews, a unique happy hour starting at 5:50pm that includes £5.50 drinks designed to encourage people not to travel at rush hour.