Finance – Page 263
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News
Imbiba completes latest round of fundraising
Imbiba has completed its latest round of fundraising, raising £6m to invest across its two concepts Darwin & Wallace and Camm & Hooper.
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PBR creditors likely to lose more than £7m
Four sites formerly operated by PBR Leisure, which was placed in administration last November, have been sold for a total of £4.2m, although creditors of the company are likely to lose more than £7m from PBR’s collapse
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Oracle confirms $5.3bn Micros deal
Oracle has confirmed it has agreed to acquire hospitality and retail technology vendor Micros Systems for $5.3bn
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NewsM&C20 hits six-month low
The M&C20 Leisure Index fell to its lowest point since December this week, sliding 35 points to 1,178 – just 118 points ahead of the All Share Index, which was down 7 points at 1,059
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NewsMcMullen's managed lfls accelerate to 6.7%
Like-for-like managed sales growth for McMullen’s, the Hertfordshire-based brewer and pub operator, has accelerated to 6.7% in the six months to the end of March 2014 after growing by 4.2% in the year to 28 September 2013
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Soho Coffee Co signs Total Fitness deal
Soho Coffee Co has signed a deal with health club chain Total Fitness to operate concessions across its 16-strong estate
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Timothy Taylor pre-exceptional operating profit grows 3.2%
Timothy Taylor, the West Yorkshire brewer and pub operator, saw pre-exceptional operating profits rise 3.2% to £2.1m in the year to 30 September
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NewsWhitbread details restaurant improvements
Whitbread is seeing a “significant improvement” in guest scores and ‘intention to return’ rates at its restaurants, and is also reversing earlier margin contraction as it draws back from promotions, according to chief executive Andy Harrison
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Oracle in Micros talks
Oracle Corp is reportedly in talks with Micros Systems Inc to buy the software maker for the hospitality sector for more than $5bn
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NewsChinese private equity firm eyes PizzaExpress bid
Hony Capital, one of China’s largest private equity firms, has emerged as a bidder for PizzaExpress, according to Sky News
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NewsEd’s appoints advisor as it looks at financing options
Ed’s Easy Diner has appointed corporate advisory firm McQueen to advise it on its financing options as it gears up for the next stage of its development
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NewsAnalysts upbeat on M&B’s Orchid acquisition
Analysts have given a generally positive response to Mitchells & Butlers’ acquisition of the majority of the Orchid estate
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NewsSSP confirms IPO move
SSP, the travel concessions operator, has confirmed reports that it plans to proceed with an initial public offering and float on the London Stock Exchange, raising primary proceeds of c£500m through the offer of new shares
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NewsCote completes Muswell Hill deal
Cote, the French brasserie chain, has completed on a further site in London, in Muswell Hill
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NewsWhitbread Q1 lfls grow 6.9%
Whitbread, the leisure group, has reported a 6.9% rise in like-for-like sales in the 13 weeks to 29 May, led by Premier Inn (+9.5%) and Hotels and Restaurants (+7.6%), while Costa and the Restaurants divisions were up by 4.5% and 4.4% respectively
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River Cottage launches fundraising
River Cottage Canteen has issuing a £1m mini-bond through crowd-funding website Crowdcube as it looks to expand to large footfall sites in prime locations
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News
Commercial sector boosts Majestic
An increase in sales direct to pubs, bars and other commercial businesses helped Majestic Wines grow total sales 1.4% to £278m in the year to 31 March 2014
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NewsM&B's Orchid acquisition 'a good deal' but has 'execution risk'
Mitchells & Butlers’ (M&B) acquisition of 173 Orchid sites is a “good deal”, although it could disrupt M&B’s cultural reengineering programme and will increase the size of its bottom end by c23%, according to leading analyst Geof Collyer
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NewsM&B completes £266m Orchid acquisition
Mitchells & Butlers (M&B) has announced that it has acquired the majority of Orchid’s estate, consiting of 173 sites, in addition to Orchid’s head office, for £266m
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NewsM&C20 slides amid interest rate fears
There was a downturn across the M&C20 this week with more than half the companies in the leisure index slipping a few points, possibly in reaction to Mark Carney’s announcement that household interest rates could rise sooner than markets were anticipating