Tower Bridge site ‘one of a number’ Temakinho is looking at in London as it rolls out expansion plans: The unit Brazilian-Japanese fusion chain Temakinho has secured at One Tower Bridge is “one of a number” the brand is looking at across London as it looks to roll-out international expansion plans. The company has taken a 2,777 square foot unit on a 20-year lease for its second site in the capital, with the restaurant due to open in mid-2018. Temakinho made its UK debut in Soho last year and specialises in fresh, sustainable seafood, temakis and caipirinhas. The company was founded in 2012 by the Maroli family and operates six restaurants in Italy and one in Ibiza. Sammy Weinbaum, head of acquisitions at CDG Leisure, which brokered the deal, said: “Diners at the One Tower Bridge branch will enjoy a meal against a spectacular backdrop of some of London’s most iconic sites. This expansion is the first in a number of sites the restaurant is looking at in the city.” Temakinho will join other restaurant brands at the One Tower Bridge scheme, including Gunpowder, Ivy Cafe and Rosa’s Thai Cafe. Prosecco House, London’s first bar dedicated to prosecco, will also open at the development in February.
SA Brain confirms new brewery site: Brewer and retailer SA Brain is set to move into a new brewery and support centre in Cardiff as its historic site in the centre of the city is readied for redevelopment. Contracts have been exchanged on Courtney House in the Pacific Business Park, which is 1.5 miles from the city centre. The head office and support centre functions are expected to move to Courtney House in May or June 2018, by which time SA Brain hopes to have completed most of the building works for the new brewery, with production expected to begin in early 2019. SA Brain chairman John Rhys said: “We are delighted to have secured our new home, which represents an exciting new chapter in our 135-year history of brewing and hospitality retailing from our Cardiff base.” Chief executive Scott Waddington added: “Courtney House offers us the ideal facility to construct a modern, fit-for-purpose brewery in addition to developing the first floor into a high-quality office space.” Earlier this week, Propel revealed plans to redevelop SA Brain’s current brewery in Crawshay Street are in an advanced stage, with the site likely to include a 200-bedroom hotel, multi-storey car park and 12-storey office block. Rhys said: “We also envisage developing a new venue within the existing brewhouse building alongside the famous Brains chimney at Crawshay Street, which would encompass a pub, micro-brewery and visitor attraction.” Cushman & Wakefield advised SA Brain on the relocation.
Linda Lee to launch Korean ‘table and market’ concept in Soho next month: Restaurateur Linda Lee is to launch a Korean “table and market” concept in Soho next month. Mee Market will open in Archer Street on Monday, 4 December in partnership with Code Hospitality. The venue will be split over two levels, offering a poké rice and salad bar, a hot counter for stews, hot pots and side dishes, and selling Korean and Asian-inspired dry foods, including a customised rice dispenser. Fresh vegetables will also be available to buy alongside items from a frozen Asian food section. The venue will also offer signature dishes from Lee’s fine dining restaurant Koba and street food brand On the Bab, alongside root and green teas and recipe cards for customers who will be able to purchase the ingredients on-site. Downstairs, the venue will offer branded homeware, accessories and stationery, as well as an 18-cover dining space. Lee said: “I want to offer Londoners a great grab-and-go Korean and Asian food option, and with Mee Market they will have a choice of takeaway options as well as dried ingredients and recipe cards to cook dishes at home.” Lee launched Koba in 2005 in Fitzrovia before opening Japanese restaurant Nizuni nearby and Nizuni Go in Marylebone. Deciding to focus on the cuisine of her native Korea she launched On The Bab, which currently has four London sites.
Chef Aiden Byrne to leave Living Ventures to head up D&D London’s new rooftop Manchester restaurant: Chef Aiden Byrne is to leave Living Ventures to join restaurant group D&D London, where he will head up the company’s new Manchester venture. Byrne stepped back from Manchester House, his city centre collaboration with Living Ventures, following the appointment of long-term prodigy Nathaniel Tofan as head chef earlier this year. He has been working in an executive role overseeing other brands in the Living Ventures portfolio but will leave in January to be head chef at 20 Stories – the 300-cover restaurant D&D London is opening at the top of newly built 1 Spinningfields. Byrne – once the youngest chef to achieve a Michelin star when he was awarded the honour at 22 – had been with Manchester House since its launch in 2013. Byrne said: “I feel the time is right for Nat to get the recognition he deserves at Manchester House. He has been running the show for a long time since I widened my role within Living Ventures and been by my side since the day we opened, so is more than ready to put his own mark on the menu. I know the business is in safe hands and I can’t wait to see what he comes up with! I’ve had a great time at Manchester House and am very proud of what we’ve achieved.” Living Ventures chief executive Jeremy Roberts added: “We’re sorry to see Aiden leaving us and I want to take this opportunity to thank him publicly for his enormous contribution in establishing Manchester House on the culinary landscape of the city. We wish him every success for the future. Living Ventures has a history of developing young talented people within the company and we’re excited to see Nat achieve his potential.”
West Berkshire Brewery starts production at new £6m site: West Berkshire Brewery has started production at its new £6m brewery. The three-vessel, 60HL brewhouse features an automated packaging line that allows West Berkshire Brewery to offer contract packaging to other brewers. The minimum run will be 30HL or 9,090 330ml bottles, allowing brewers to prototype new beers and customers such as restaurant chains and supermarkets to launch their own beer brands. The company said the outsourced packaging business alone could generate £1.3m of new revenue in the first year alone. Chairman David Bruce said: “This is a big moment for us. It is the culmination of a three-year project that has seen us plan, fund and build a cutting-edge, custom-built brewery complete with extraordinarily sophisticated packaging lines.” The brewery has been built next to its previous site in Yattendon and features a 200-capacity visitor centre, bar, cafe and shop. West Berkshire Brewery owns The Depot pub in Islington and earlier this month had an offer accepted on another north London pub and exchanged contracts to acquire the Old Suffolk Punch pub in Fulham Palace Road, west London. The company plans to operate ten pubs by 2022.
Former Cote recruitment director acquires Cotswolds pub: Former Cote recruitment director Scott Williamson has acquired a pub in the Cotswolds. Williamson and business partner Ian Apsley have bought The Highway Inn in Burford High Street in a deal brokered by agents Colliers International. The grade II-listed pub includes a 40-cover restaurant, a three-bedroom owners’ flat and ten letting rooms. There is also a private dining room seating 25 diners and outside space to accommodate a further 40. Williamson said: “The Highway has massive potential and, as there is plenty of competition, we will focus on where we can add value. I will run the day-to-day operations. It’s a big lifestyle change from working in Surrey and London but Burford is in the heart of one of the most beautiful parts of the world.” Williamson worked at Cote for more than eight years and has also worked for Carluccio’s and, most recently, as HR manager at Japanese restaurant brand Sticks ‘n’ Sushi.
Oklava co-founder to launch neighbourhood wine shop and restaurant in north London: Laura Christie, co-founder of Turkish restaurant concept Oklava, is launching a neighbourhood wine shop and restaurant in north London next week. Christie and partner Chris Boustead, one half of seasonal British pop-up Boustead & Bidois, will open Linden Stores in Highbury Corner at a site formerly occupied by fishmonger and restaurant Prawn on the Lawn. The basement restaurant in St Paul’s Road will have a wine list selected by Christie accompanied by seasonal British dishes inspired by Boustead’s childhood in Yorkshire. The shop will also stock a selection of wine. Linden Stores, which is named after the road where Boustead grew up in Scarborough, will open on Wednesday, 29 November. Christie launched Oklava with Turkish chef Selin Kiazim in Shoreditch in 2015.
Charlotte’s Group appoints head of operations: West London-based operator Charlotte’s Group has appointed Alex Ghalleb as head of operations and people. Ghalleb was previously director of operations at east London cafe bar and restaurant group Grind & Co, where he grew the business from three sites to ten in two years. Prior to that, Ghalleb was general manager at Soho House Group, overseeing the opening of Hoxton Grill, Soho Berlin and launching the Pizza East brand. He said: “I love food, drink and people and have totally bought into the brand and team. We have a shared vision to create the best food and drink experience in west London.” Charlotte’s Group owner Alex Wrethman added: “I am delighted the time has finally come to welcome Alex to Charlotte’s Group. I’ve known him for many years and he was number one on my hit list for a long time. His varied experience at Soho House and Grind, coupled with his relentless and infectious passion for great hospitality, will be crucial to us as we grow and drive the very highest standards Charlotte’s guests have come to expect.” Meanwhile, Lee Streeton has been appointed head chef of the company’s latest venue – Charlotte’s W5 in Ealing. Streeton was previously head chef at 45 Jermyn Street within Fortnum & Mason. Charlotte’s Group also operates Charlotte’s Place in Ealing Common and Charlotte’s Bistro in Chiswick.
White Brasserie Company reveals more details of first Oxfordshire pub: The White Brasserie Company has revealed more details about its first pub in Oxfordshire, which will open in Thame next month as its 16th site. The 140-cover Black Horse Hotel will reopen on Monday, 18 December featuring a bar, snug and a garden room backing on to a courtyard garden with space for another 40 diners. A brasserie-style dining area – The Coach House – will feature exposed beams, dark oak floors, and giant iron chandeliers. The seasonally changing menu will feature classic British pub dishes and French brasserie favourites. An extensive wine list will include European and New World wines alongside craft beer and artisan British spirits. The former coaching inn dates to the 16th century and original period features such as wood panelling and stone paving have been retained. The White Brasserie Company and Brasserie Blanc are part of Brasserie Bar Co, of which chef Raymond Blanc is a director. Brasserie Bar Co chief executive Mark Derry said: “This represents another step in our growing portfolio and we look forward to welcoming guests into The Black Horse in December.”
Stephen Crawley back in brewing as new Liverpool development launches next month: Former Caledonian managing director Stephen Crawley, who resurrected renowned brewer Higsons, is back in brewing having masterminded the development of a new brewery, distillery and retail space in his home town of Liverpool. The multimillion-pound investment has seen a former run-down warehouse in the Baltic Triangle area transformed into a state-of-the-art space named H1780 that will open next month. It will produce about 9,000 hectolitres a year, reviving the Higsons beer and Love Lane brands. The beers, synonymous with Liverpool for more than 200 years, have been on Crawley’s radar for some time. Last year, he acquired the Higsons brand and at the same time purchased the Liverpool Craft Beer Company, makers of Love Lane beers at the Bridgewater site. His vision for the space gained momentum as he drew experience from his time at Caledonian, from which he stepped down in December 2013. As a result, the project has expanded into a site offering a brewery, distillery, three bars, a kitchen and events space. Crawley said: “We will not use the original Higson’s recipes but create an exciting range of new beers to better reflect the taste profiles expected from premium craft beers as well as building on the success of the Love Lane brands. The introduction of our gin distillery and launch of our Ginsmiths of Liverpool brand is equally exciting, with some exceptional flavour profiles pulled from the historic trading links for which Liverpool was famous. The project has been inspiring. We’re proud of the past and excited by the future.”
Granny Annie’s reveals details of £12m investment in four new Derry venues: Granny Annie’s, the brand operated by Northern Ireland company W&R Holdings, has revealed details of its £12m investment in four new venues in Derry. Having bought former Wetherspoon and Ice Wharf pubs, the group has also secured the Clarendon Bar, which will be renamed The Tipsy Bird, and the Belfray Country Inn Hotel on the outskirts of the city. The company is investing £4m to convert Wetherspoon pub The Diamond to Granny Annie’s Kitchen and Bar, while carrying out a multimillion-pound revamp of the Clarendon Bar in Lower Clarendon Street. The acquisition and refurbishment of the Belfray Country Inn Hotel and the Ice Wharf in Strand Road will bring the group’s total investment in the city to about £12m. Group area manager Andrew O’Doherty told the Derry Journal: “We believe the new Granny Annie’s Kitchen and Bar complex and the forthcoming Tipsy Bird development are important regeneration projects vital to Derry’s tourism economy. We want to provide the next generation of superpubs and ensure their customers receive a first-class service with a five-star experience, including beverage, entertainment and food.”
Goodbody – M&B ‘performing well’ but mindful what 2018 could bring: Goodbody leisure analyst Brian Devitt has said Mitchells & Butlers (M&B) is “performing well” but added he was mindful of what 2018 could bring. Issuing a ‘Hold’ note on the shares with a target price of 270p ahead of the company’s full-year results on Thursday (23 November), Devitt said: “The group released a pre-close trading statement in September in which it reported like-for-like sales growth of 2.1%. For FY17, we forecast revenue of £2,142m, Ebit of £310m and year-end net debt of £1,740m. Given FY17 like-for-like trends are more or less known, we will be focusing on trading since year-end (we forecast 3% like-for-like sales growth in FY18). We will also be looking for any broader comments on the outlook and competitive intensity, particularly given how management noted aggressive competitor discounting at the interims in May. Lastly, we will be monitoring any changes to the group’s cost expectations given recent volatile foodservice input costs. M&B has continued to deliver like-for-like sales improvements over the past 18 months, with the business benefiting from the estate refurbishment programme. The turnaround in performance has been impressive and the share price appears to have reflected this recently. However, one cannot ignore the fact the eating/drinking out sector is likely to enter a particularly challenging year in 2018, with slowing market growth and increased competition. Furthermore, another round of cost headwinds means strong sales growth will be needed to maintain profitability. We retain our 270p target price (circa 2% upside) and retain our ‘Hold’ recommendation.”
FullClear increases equity offer in £250,000 crowdfunding campaign: Beer line cleaner business FullClear has increased the equity offer in its £250,000 fund-raise on crowdfunding platform Crowdcube to help fund its next stage of growth. The company, whose customers include Admiral Taverns, Hawthorn Leisure and Tokyo Industries, is now offering a 12.82% equity stake in return for the investment instead of the original 9.09%. So far, 104 investors have pledged £90,610 with 18 days remaining. The largest investment to date is £10,000. The company stated: “After ongoing discussions with several larger potential investors, we have decided to reduce the valuation of the business. The new pre-evaluation now stands at £1.7m allowing for a 12.82% equity exchange for £250,000. We feel the reduction is a more accurate representation of where the business is at currently having taken into consideration the roll-out status of key accounts and platform development.” FullClear is a scientifically formulated beer line-cleaning solution that is non-corrosive, non-toxic and non-hazardous, proven to allow for safe, monthly beer line cleaning, the company said. It will use the investment to further its expansion in the UK and globally alongside building its sales and marketing capabilities. It also has an exclusive partnership with beer quality and waste management systems company Vianet, allowing operators “total oversight over their line-cleaning processes”.
Independent coffee company Bean launches retail concept in Liverpool: North west-based independent coffee company Bean has launched a retail concept at Liverpool’s Princes Dock. The company, which opened its 11th site in August, also in Liverpool, has opened the concept shop at Liverpool Waters focusing on local produce and artisan goods. The new venture, known as The Store, combines the food and beverage aspect of a traditional convenience store with a range of other amenities, including an off-licence and florist alongside dry cleaning and courier services. The Store also features a pop-up area that will host craft retailers, artisan bakers and a Friday farmers’ market. Bean Coffee director and co-founder Jon Whyte told BDaily: “There are a lot of people on-site at Liverpool Waters, whether workers, residents or visitors, and we want to cater to their varying needs. We will bring the everyday services they need under one roof.” Bean operates six coffee shops in Liverpool, with the other five in Greater Manchester.
Thwaites chief executive increases shareholding: Richard Bailey, chief executive of north west brewer and retailer Daniel Thwaites, has increased his shareholding in the company. Bailey has bought 30,000 shares at a price of £1.48 per share to take his total number of shares in the company to 612,328. The percentage of issued share capital he owns stands at 1.040%. Meanwhile, non-executive director Nick Mackenzie has bought 13,500 shares at £1.48 per share to take his total number of shares to 38,500. The percentage of issued share capital he owns is 0.065%. The dealings mean the total percentage of issued share capital held by company directors now stands at 44.72%.
Tim Hortons opens debut UK shopping centre site: Tim Hortons, the Canadian cafe and bake shop owned by Restaurant Brands, has opened its first UK shopping centre site, in Glasgow. SK Group, which is leading the UK roll-out of Tim Hortons, has launched the outlet at Silverburn Shopping Centre – its second venue in the city and third to date. The 2,368 square foot restaurant is located in the Wintergarden, next to Patisserie Valerie. The new outlet offers Tim Hortons’ signature coffee, espresso-based drinks, hot chocolate, French vanilla and classic frozen Iced Capp, as well as baked goods and breakfast and lunch offerings. Kevin Hydes, chief finance and commercial officer of the Tim Hortons franchise in Great Britain, said: “Opening our debut restaurant in a dedicated retail destination marks a key point in our expansion across the UK and we are thrilled we chose Silverburn as the location.” Tim Hortons made its UK debut in Glasgow’s Argyle Street in June, while its second outlet launched in Cardiff last week. Further sites are planned in the coming months as Tim Hortons looks to build a minimum of 100 outlets in Britain.
Douglas Jack – EI Group results in line with expectations following strong second half: Peel Hunt leisure analyst Douglas Jack has said Ei Group’s full-year results were in line with expectations following a strong second-half performance. Issuing a ‘Buy’ note on the shares with a target price of 165p, Jack said: “Pub partnership’s like-for-like net income grew by 2.3% in 2017 versus a 2.1% comparable. Average net income per pub rose by 5.0% to £79,600. Licensees benefited from 60% of capex being growth-orientated (57% in 2016), generating an average return on investment of 21%. Unplanned business failures affected 1.3% of the estate in 2017 versus 1.6% in 2016, and 7.3% in 2009. Ei Group has further improved licensee support. Its arrangement with Booker Wholesale has helped 4,000 publicans boost their food offering (on good buying terms but only if they have stayed tied). Online, it has launched a recruitment tool and added new regionally focused pages as well as an applicant dashboard. The managed estate’s expansion is broadly on target, with 48 Bermondsey, 30 Managed Investments and 178 Craft Union sites at year-end (30 September). In the managed estate, like-for-like sales grew by 2.4%. Commercial lease expansion (at 331 sites) is behind, pleasingly due to fewer Market Rent Only (MRO) option conversions. Due to this trend, the company now expects 600 to 700 rather than 1,000 commercial leases in 2020E. Anticipating average commercial lease profitability being higher as a result, Ei Group still believes this estate can convert into a real estate investment trust (after 2020E). There were just ten MROs and a further 60 MRO claims with the adjudicator as at 30 September, materially below our original forecast of 80 MRO conversions. For the 112 pubs where an MRO offer was issued, resulting in 102 mutually agreed tied deals and ten mutually agreed free-of tie deals, overall like-for-like net income was unchanged in 2017. Disposal activity remains strong and accretive. In 2017, 224 pubs were sold, comprising 190 at ten times Ebitda or 295,000 per pub; 16 higher-value assets at more than 20 times Ebitda; and 18 commercial lease sites on 15 times Ebitda. We are holding our forecasts, which assume 0.5% growth in like-for-like net income and 2.8% growth in average tenanted pub profitability and after tail-end disposals. Trading expectations should be supported by a bounce-back in pub sector trading in October (when the Coffer Peach Business Tracker rose 1.4% for managed pubs and fell by 1.5% for managed restaurants). In 2018E, we forecast Ebitda falling by 0.6%, outpaced by net debt falling by 5% (before share buybacks), creating 17% growth in equity value. The company has sufficient debt facilities to repay the £100m 2018 corporate bond (6.5% coupon) and can now restart its share buyback programme (worth £20m in 2018E).”
London Beer Factory launches barrel-ageing programme and taproom in Bermondsey: The London Beer Factory has launched a barrel-ageing programme and taproom in Bermondsey. The company has taken over an arch in Druid Street and acquired 180 reconditioned Bordeaux wine barrels. Its aim during the next six to nine months is to fill them with different beers using various strains of yeast and bacteria as well as producing its own Lambic-style beer. The Barrel Project will also open as a taproom on Fridays and Saturdays, where a selection of The London Beer Factory’s latest brews will be available as well as other barrel-aged beers. The Barrel Project has capacity for up to 150 people.
Aston Manor Cider celebrates record harvest as new orchards bear fruit: Birmingham-based cider-maker Aston Manor is celebrating a record harvest. After several years of investment, the company has added 400,000 trees to the landscape with the new orchards bearing fruit for the first time. Based on yield projections of about 20 tonnes of apples per acre every year, Aston Manor said it would pay more than £55m to farmers and growers for this planting scheme alone as part of its 25-year commitment to producers in Herefordshire and Worcestershire. Chief executive Gordon Johncox said: “We embarked on this planting scheme because of the confidence we had in our products, our growers and our future prospects. Although we won’t break even on each tree planted for eight or nine years, we are committed to our growers and to the sustainability of the rural economy.” In August, Aston Manor reported its five-year investment plan, totalling more than £30m, had supported increased sales for Aston Manor Cider as it announced turnover of almost £113m in 2016 – a 4% increase on 2015 – and Ebitda for the year amounting to £8.2m.
Hawthorn Leisure scoops finance awards: Hawthorn Leisure has won two accolades in the West Midlands Finance Awards 2017. The Birmingham-based company clinched the small business of the year and finance team of the year titles. Hawthorn has achieved three consecutive years of growth since being founded in 2013 and achieved a 10.1% increase in Ebitda to £9.0m for the year ending 25 December 2016. Led by finance director Matt Ward, the company successfully implemented a change in supply chain arrangements with Marston’s and C&C Group in the year as well as refinancing £89.5m of shareholder debt. Chief executive Gerry Carroll said: “Our flexible approach to doing business based on a strategy built around people, property, proposition and profit has worked for us. It is fantastic to be recognised not just from within our own industry but from a peer group across all industries, judged purely on delivery and results.” Hawthorn Leisure was formed with three acquisitions and now operates 53 managed and 259 tenanted pubs across England, Scotland and Wales.