UKHospitality: Hilton boss to chair pub and restaurant body as part of leadership shakeup June 13, 2023 The body which represents pub and hospitality businesses across the UK, has named the managing director of Hilton UK & Ireland, as its new chair, as part of a scheduled shake up of its leadership board. UKHospitality said Steve Cassidy, who oversees operations for the luxury hotel group will take over as chair this week [...]
Yo! Sushi owner sold to Japanese food giant in £500m deal June 13, 2023 The business behind restaurant chain Yo! Sushi has been bought by one of Japan’s biggest food companies in a deal worth almost half a billion pounds. Mayfair Equity Partners said it sold its stake in Snowfox Group to Zensho Holdings for $621m (£494m). The deal sees the Japanese giant gain a company which owns several [...]
CMA hits out at Asda and Sainsbury’s for restricting competition June 13, 2023 Asda and Sainsbury’s broke anti-competition rules a combined total of 32 times between 2011 and 2019, the competition watchdog said this morning. The Competition and Markets Authority (CMA) said the ‘Big Four’ supermarkets broke the Groceries Market Investigation (Controlled Land) Order 2010, which was brought in to stop supermarkets imposing new restrictions that stop rivals [...]
Brasserie Blanc eyes major pub expansion plan for 60 sites while creating 1,500 jobs June 13, 2023 Brasserie Blanc restaurant chain has revealed a major revamp which will see the hospitality group expand into the pubs with rooms market. Last year, Brasserie Bar Co was snapped up by private equity group Alchemy Partners for an undisclosed sum, and will now be renamed as Heartwood Collection, as part of its new makeover. The [...]
Ex BAT chief handed £1.5m lump pension payout after exit from Lucky Strike maker June 12, 2023 The former head of British American Tobacco (BAT) will be handed a £1.5m lump pension payout following his surprise exit from the cigarette company last month. Jack Bowles departed the Luck Strike maker last month following four years at the helm – he was replaced by former finance director of the group Tadeu Marroco. At [...]
Lights out: F1 Arcade secures tens of millions for global expansion June 12, 2023 A Formula 1 competitive gaming chain, founded by hospitality heavyweight Adam Breeden, has secured £30m in funding from investors to fuel its expansion globally. The concept, F1 Arcade, launched last year in St Paul’s, London and merges simulator racing with cocktails and food. The sport has grown in popularity in recent years, largely made popular [...]
Bread, beef, watermelon and salad dressing: Waitrose joins supermarket war cutting price of 200 products June 12, 2023 Waitrose has slashed the price of more than 200 products as part of a £100 million investment plan to lower customer bills. The supermarket has cut the cost of more than 100 products by at least 10 per cent , with everyday items such as bread and mince receiving some of the biggest reductions. The [...]
Ashley’s empire grows: Frasers picks up nearly 20 per cent of retailer AO World June 12, 2023 Mike Ashley's Frasers Group has invested £75m in electronic retailer AO World, taking a stake of almost 20 per cent in the business.
Danone UK boss urges government to raise fat, sugar and salt taxes June 11, 2023 The UK boss of a major food firm has called on ministers to link VAT rates to the “health credentials” of products containing fat, salt and sugar, in the first example of such a demand coming from business rather than government. James Mayer, president of Danone UK & Ireland, which sells the Actimel yoghurt drink [...]
Travelodge owners eye £1.2bn price tag for budget hotel chain June 11, 2023 Budget hotel chain Travelodge will be put up for sale with a price tag of over £1bn as its owners look to cash in the recovery of the travel sector post-pandemic. Its owner of nearly a decade, American asset management firm Goldentree is said to be in talks with investment banks to explore a potential [...]