Shake up at Dirty Martini as owners appoint advisers for possible sale November 11, 2018 The group that runs the Dirty Martini chain of cocktail bars confirmed today it had appointed advisers to examine a sale. CG Restaurants said it had “received a number of unsolicited approaches, which are being considered in the context of delivering best value to our shareholders.” It also said: “This may or not result in [...]
Which London restaurants are extending Eat Out to Help Out? September 4, 2020 Independent and chain restaurants across London are preparing to launch their own discounts following the success of the government’s Eat Out to Help Out initiative. The government scheme, which offered a 50 per cent discount up to the value of £10 per person, has been popular, with 64m half price meals enjoyed in the first [...]
Domestic M&A rises in first quarter despite coronavirus, as foreign takeovers fall June 2, 2020 UK M&A increased in the first quarter despite the outbreak of coronavirus, while foreign takeovers fell to their lowest level since 2017. During the first quarter, domestic M&A – where UK companies acquire other UK companies – was worth £3.2bn, an increase of £1.1bn in the same period last year, according to the Office for [...]
Private equity activity reaches new peak but firms brace for difficult year April 22, 2020 European private equity activity hit a new peak in the first quarter, but firms are bracing for a significant slowdown as the impact of coronavirus hits. The first quarter saw 1,025 deals close for a total €132.9bn, a new quarterly peak, according to PitchBook data. It is in part because transactions that closed in the [...]
Booze boom: UK pub numbers grow for the first time in a decade December 11, 2019 The number of UK pubs and bars grew in 2019, sparking hopes of a turnaround in fortunes for Britain’s boozers after a decade of decline. New figures from the Office of National Statistics (ONS) revealed that there was a net gain of 320 pubs this year. Read more: UK restaurants and pubs hope for festive [...]
Pub companies: Is now the time to invest in a cheap pint? September 23, 2019 Investors in Greene King are raising a glass in celebration after Hong Kong’s richest man, Victor Li, agreed to buy the UK’s largest publicly-listed pub and brewery company for £4.6 billion (including net debt). A unit of Li’s investment vehicle, CK Asset Holdings, has bid 850 pence per share – more than a 50 per [...]
Revolution Bars shares fall as firm serves up operating loss in full-year results October 2, 2018 Revolution Bars slipped to an operating loss in its full-year results due to exceptional costs caused by "factors outside the company's control". The update hit the company's shares in early trading, as they opened four per cent down in early trading. The figures For the year up to 30 June 2018, like-for-like sales fell 0.6 [...]
Nightclub operator Deltic prepares for night on the town as IPO plans are put back on the table April 8, 2018 Nightclub operator Deltic has put plans for a public market float back on the table, mulling a capital markets day for later this month. The capital markets day would allow Deltic, which operates under brands such as Pryzm and Steinbeck & Shaw, to woo investors and gauge appetite for an initial public offering (IPO). Deltic [...]
Not quite last orders: Deltic buys stake in merger target Revolution Bars after Stonegate takeover stalled November 30, 2017 Nightclub operator Deltic Group has revealed a three per cent stake in Revolution Bars Group, hinting that a prospective merger is still on the cards. The stake disclosure comes after a period of considerable back and forth with Deltic pursuing a tie-up with the bar chain. Deltic, which operates clubs under brands such as Pryzm [...]
Revolution Bars shareholders eye a merger with Deltic after rejecting Stonegate October 29, 2017 Top stakeholders in Revolution Bars are starting to warm up to the idea of a merger with nightclub operator Deltic Group. Shareholders in Revolution rejected a more than £100m takeover offer from Slug and Lettuce owner Stonegate Pub Company earlier this month. Deltic had attempted to put the brakes on the takeover bid by launching [...]