Company & City News

The latest news from the pub industry's top companies, as well as deals, results and appointments from the City.

Punch restructure set to complete next week after approval from Lloyds

02-Oct-2014 - Lloyds Bank has given its support to Punch Taverns’ restructuring – leaving approval by the Royal Bank of Scotland as the last remaining hurdle.

City Pub Company plans new fundraising

02-Oct-2014 - City Pub Company, the Enterprise Investment Scheme (EIS)-funded group, plans to raise a further £5m to £10m as it targets an estate of 25 to 30 pubs.

Mitchells & Butlers cools growth plans

01-Oct-2014 - Mitchells & Butlers (M&B) is to significantly “temper” its organic expansion as it focuses on converting the former Orchid estate.

Wetherspoon’s finance chief defects to Greene King

01-Oct-2014 - Kirk Davis, the current finance director at JD Wetherspoon, is to join rival Greene King from the start of next year as its new chief financial officer.

Roy Ellis joins JW Lees board as adviser

30-Sep-2014 - Roy Ellis, founder and ex-chief executive of Inventive Leisure, is to join the management board of JW Lees, the Manchester-based brewer and pub operator, as an external adviser, as the company accelerates its growth plans.

Late Knights to launch bakery/pub concept

29-Sep-2014 - Late Knights, the London-based brewer and pub operator, has told M&C Report about ambitious plans to open a pub housing a bakery, café, cinema and eventually a farm.

M&B bemoans 'difficult' August

25-Sep-2014 - Mitchells & Butlers (M&B), the managed operator, has reported a 0.1% rise in like-for-like sales in the nine weeks to 20 September following “difficult” trading conditions in the pub sector in August.

Griffiths in the frame as hunt for new Punch CEO begins

25-Sep-2014 - Punch Taverns chief operating officer Neil Griffiths is a “strong candidate” for the role of chief executive, and the group would look at candidates with retail skills from inside and outside the pub sector, executive chairman Stephen Billingham has said.

BrewDog unveils hotdog concept and reveals new sites

24-Sep-2014 - The new BrewDog bar opening in Islington will be called Dog Eat Dog and will focus on hotdogs and craft beer.

Shepherd Neame says sales boom proves drinkers and diners are returning to pubs

24-Sep-2014 - Shepherd Neame, the Kent-based brewer and pub operator, has reported a 8.9% rise in like-for-like sales across its managed pubs and hotels division in the year to 28 June 2014 and said that it had made a good start to the new year, maintaining recent momentum, in particular across pub estate.

Spirit Pub Company rejected 'undervalued' Greene King bid

23-Sep-2014 - Spirit Pub Company said it rejected a 100p-per-share offer from Greene King because it “undervalued” the firm.

Wear Inns sets out acquisition plans on back of strong performance

23-Sep-2014 - Wear Inns has set a target of a 40-strong estate as it reported positive results.

Co-Op to build stores on 63 ex-Marston’s sites

23-Sep-2014 - The Co-Operative Group has agreed a deal to build 63 Co-Op stores on ex-Marston’s pub sites.

Upham grows pub estate to ten

22-Sep-2014 - Hampshire-based Upham Pub Group has grown its estate to ten with the acquisition of the Peat Spade in Stockbridge from Miller’s Collection.

AB InBev UK president Plochaet quits

19-Sep-2014 - Inge Plochaet is leaving her role as president of the UK division of AB InBev after 20 years with the company.

Hartlepool brewer and operator Camerons buys Whitby site

19-Sep-2014 - Camerons, the Hartlepool brewer and pub operator, has bought another site for its managed estate.

Seven Brooklyn-style bars for new Ruth & Robinson concept

19-Sep-2014 - Imbiba Partnership, the investment company behind Drake & Morgan and Hamilton & Bond, is launching a new concept called Ruth & Robinson to roll out seven new bars inspired by Brooklyn, New York, the Publican's Morning Advertiser's sister title M&C Report has learnt.

Robinsons to offer innovative new tenancy agreements

18-Sep-2014 - Robinsons, the Cheshire brewer  and pub operator, is to offer drinks discounts at selected pubs based on competition in the local market and what consumers are prepared to pay.

Punch Taverns: restructure into 'final phase' as shareholders and noteholders vote in favour

17-Sep-2014 - Punch Taverns has entered the “final stages” of its restructure process, with noteholders joining the shareholders in approving the proposals, which are now expected to be implemented on 13 October.

Peach Pub Company secures £500,000 boost from Molson Coors

17-Sep-2014 - Peach Pub Company has secured a further £500,000 in funding from brewer Molson Coors to expand its operations, M&C Report has learnt.

Timothy Taylor announces new chief executive

16-Sep-2014 - Timothy Taylor, the Yorkshire-based brewer and pub operator, has announced the appointment of Tim Dewey, current global marketing director and UK commercial director for Drambuie Liqueur Company, as its new chief executive.

Heineken sells 111 pubs to Admiral Taverns

16-Sep-2014 - Heineken UK, owner of the leased pub operator Star Pubs & Bars, has agreed to sell 111 pubs to Admiral Taverns for an undisclosed sum.

JD Wetherspoon reports rise in like-for-like sales

12-Sep-2014 - JD Wetherspoon has reported a 5.5% rise in like-for-like sales in the year to 27 July, with profit before tax and exceptionals up 3.1% to £79.4m.

British Country Inns expects shareholder sell-off

11-Sep-2014 - British Country Inns (BCI) expects that “a large number” of its shareholders will look to sell up when its shares are placed on the on-line trading platform Asset Match, with a minority selling at a discount, chairman Martin Sherwood has said.

MOJO reveals plans to extend beyond northern heartland

10-Sep-2014 - Three-strong bar group MOJO has announced plans to extend to at least 10 sites with its sights initially set on London.

Properties of the week

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