All MCA Insight articles in October 2023 – Page 7
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NewsPizza Hut Europe losses widen
The Yum! operated business reported a loss after tax of $126.1m (£103.7m) for the year ending 31 December 2022, widening from $12.6m (£10.3m) the previous year.
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NewsBurger King UK secures £35m investment
The Burger King master franchise business secured new funding from existing backer Bridgepoint, while confirming plans to add over 60 restaurants over the next two years. Meanwhile 2022 revenues were up 39% to £294.5m
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Analysis & InsightTRG/Apollo: ‘It’s rather cheap’
Following a bid for The Restaurant Group to be taken private by US private equity giant Apollo Global Management, MCA hears from analysts and commentators about their verdict on the proposed £506m cash deal
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NewsQSR chains dominate UK’s most loved brands
Quick service brands feature more prominently in the UK’s top loved brands than any other restaurant category, with McDonald’s, KFC and Domino’s ranking the highest in the segment
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Analysis & InsightSuppliers not being squeezed on payments
An analsyis of 25,000 payments by Lavender Bank Partners commended M&B, Nando’s, Young’s, Amber Taverns & Five Guys for maintaining exemplary standards in paying suppliers
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NewsLoungers reports consistent sales growth
The all-day cafe-bar operator reports like-for-like sales up 7.7% in the 24 weeks to 1 October 2023
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NewsOpenings of the week
MCA rounds up this week’s biggest openings stories, including Chopstix, Bunsik, Pizza Pilgrims, Manahatta and more
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NewsBurger King UK: ‘Impactful change requires collective action’
CFO Tim Doubleday discusses how the burger franchise is evolving its business model to better align with ESG targets
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NewsBrakspear invests £2m in L&T estate
Brakspear will refurbish leased and tenanted pubs The Leicester Arms in Penshurst and The White Bear in Warlingham after signing agreements with Little & Large and Friendship and Beer
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NewsGreene King: We want to create a stable workforce
Harnessing the power of technology is key to creating and sustaining a stable workforce, according to Greene King’s director of deployment Andy Incles
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NewsBowland Inns secures £25m loan
A £25m loan from neobank OakNorth will be usd to refinance the pub and hotel operator’s existing portfolio of properties and complete the acquisition of one new property
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NewsClimate crisis will make beer more expensive
Agricultural droughts in Europe are expected to directly impact the amount of hops grown and the quality, expects warn
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Analysis & InsightTRG bid an ‘attractive offer’
Analysts said Apollo’s agreement to acquire The Restaurant Group for £506m represents a “fairly full” valuation
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NewsIncipio reports record year
Sales were up 38% to £20.65m in 2022, with investments totalling £5m made during the period across three new sites
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InterviewsPaddy & Scott’s: ‘We’re fastidious in how we trade’
Social impact continues to drive the East-Anglia based company’s expansion strategy, as it takes its first steps out of the region
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InterviewsMarston’s: ‘When customers come out, they’ll spend’
The pub operator is encouraged by customer resilience, and sees a higher degree of cost stability and visibility, CEO Andrew Andrea tells MCA
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NewsMolson Coors to pump £10m into Tadcaster brewery expansion
The investment would take place over a two-year period and increase production capacity as well as reducing carbon emissions
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NewsTRG to be taken private in £506m deal
The Restaurant Group has reached an agreement with Apollo Global Management for an all cash acquisition, representing an EBITDA multiple of x9
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NewsMarston’s reports strong momentum
The 1,145-strong pub operator reported like-for-like sales up 10.1% vs FY2022, with strong sales across food and drink as momentum continues into the new financial year
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NewsHonest Burgers closes crowdfunding after raising close to £3m
The crowdfund will accelerate the chain’s ambitions to build its presence in regional cities, as well as launch new QSR format Honest Smashed.