Finance – Page 139
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NewsCompass Group sees FY boost from UK contract wins
Compass Group, the concessions operator and contract caterer, has said a new contract win with financial services group ING in the UK helped to accelerate organic growth in Europe in the year to 30 September.
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News
Clockjack liquidated
Clockjack, the chicken restaurant turned delivery only concept, has been liquidated.
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NewsVarious Eateries secures additional debt as it eyes further growth
Various Eateries Limited (VEL) has said the difficult decision to close a number of its underperforming Strada sites has left it on a “strong financial footing”, with which to invest and grow its remaining estate.
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NewsEiG managed lfls up 7.1%; ‘considerable interest’ in commercial property arm
Ei Group (EiG) has reported like-for-like (lfl) sales up 7.1% in its 308-strong managed division for the year to 30 September.
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OpinionFinding the perfect PE bedfellow
Seeking a partnership with private equity can be a daunting and complex challenge for operators. There are a number of variables to consider before choosing the right partner, according to AlixPartners’ Graeme Smith. Includes the experiences of operators and investors, including Flat iron’s Jo Fleet and Daniel Smith of Livingbridge
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NewsTRG pulls out of Peach talks
The Restaurant Group (TRG) has pulled out of talks to acquire Peach Pub Company, the Midlands-based, multiple pub operator, as it puts all its focus on getting its proposed £559m acquisition of Wagamama across the line, MCA understands.
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OpinionYoung’s: Levers for growth; bolt-on acquisitions and cannabis cocktails
Young’s chief executive Patrick Dardis spoke to MCA after yesterday’s H1 trading update. He discussed further levers for growth, why Young’s has turned down several pub groups on the market, his anger with politicians, why he doesn’t pay attention to what his peers are doing and why cannabis-infused mocktails may be the next big trend.
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NewsOakman Inns set to appoint advisors
Oakman Inns is set to appoint advisors at the start of next year as it looks to take a flexible approach to any eventual exit for its investors, MCA understands.
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NewsEagle Eye expands into QSR with Burger King contract
Eagle Eye, the digital loyalty company, has signed a three-year deal with the Bridgepoint-backed Burger King UK – its first quick service restaurant (QSR) customer.
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NewsWest End pub let to Shep Neame sells for £3.75m
The freehold investment of The Cheshire Cheese pub in London’s West End has been sold to a pension fund investor for £3.75m.
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NewsSecond extension for Intu takeover talks
The board of Intu has approved another extension to the deadline for a firm takeover bid from a consortium led by its largest shareholder, John Whittaker, after describing “good progress being made”.
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NewsAnalysts corner: Ei Group and M&B
Peel Hunt analysts Douglas Jack and Ivor Jones have given their views on next week’s updates from Ei Group and Mitchells & Butlers. On the former, they say that the disposal of the commercial properties estate and a return to EBITDA growth are likely to be landmarks for 2019. For M&B they expect to see H1’s trend of drink outperforming food, driven by spend per head, being repeated in H2.
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Opinion
Analysts corner: Peel Hunt on TRG
Peel Hunt analysts Douglas Jack and Ivor Jones have updated their comments on The Restaurant Group’s bid for Wagamama, saying yesterday’s rights issue announcement failed to address the key issues. They set out some of the questions they believe investors should be asking of the group.
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NewsAzzurri FY sales up 8.5%
Azzurri Group chief executive Steve Holmes has told MCA that the group is primed to capitalise on the good property deals he expects will result from the contraction in the casual dining market.
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NewsDiageo to sell 19 brands for £427m
Diageo has agreed to sell a portfolio of 19 brands to US distiller Sazerac for £427m.
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NewsTRG launches £315m rights issue
The Restaurant Group (TRG) has confirmed its fully underwritten rights issue to raise £315m for the proposed acquisition of Wagamama.
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NewsDirty Martini owner reviews its options
CG Restaurants, the owner of the Dirty Martini cocktail bars chain, is reviewing its options after receiving a number of unsolicited approaches.
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NewsAnalysts corner: Goodbody on TRG/Wagamama deal
There have been a range of positive and negative reactions from analysts following the proposed sale of Wagamama to The Restaurant Group, but despite some concerns Goodbody feels is it a deal that can deliver.
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NewsLondon Cocktail Club to explore its options
London Cocktail Club (LCC), the concept led by JJ Goodman, has appointed advisers as it looks to secure new investment to fund its next stage of growth, MCA understands.
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NewsVote on GBK CVA could be closest yet
Speculation is mounting that the vote by creditors to push through GBK’s Company Voluntary Arrangement (CVA) proposal could be the tightest one yet.