Today’s news in brief – 26/10/23
TRG has confirmed it received a request from Wheel Topco, the owner of Pizza Express, to evaluate a possible takeover offer for the company. However, TRG clarified that no formal proposal, including terms, price, or consideration, has been made by Wheel Topco. This follows reports that Pizza Express is considering a rival bid to TRG’s recently agreed takeover by Apollo Global Management, with potential synergies between the two chains seen as a compelling reason for the interest.
Top managed restaurant groups experienced a 10% increase in delivery sales in September, compared with the same month in 2022, according to data from CGA. However, takeaway and click-and-collect sales were down by 3% compared with the previous year. Combined delivery and takeaway sales for September increased by 7% year-on-year. This marks the fourth consecutive month of growth following 18 months of negative numbers after the initial wave of the pandemic. Deliveries represented the majority of at-home orders, accounting for 71p of every pound spent by consumers, while takeaways made up 29p.
Shepherd Neame has extended its pouring rights partnership with Maidstone United, a team in the Vanarama National League South, for three more years. Shepherd Neame has been an official drinks partner for the Kent club since 2012. The stadium’s clubhouse is named the Spitfire Lounge, after Shepherd Neame’s beer range. The partnership includes the addition of a new Shepherd Neame-branded bar area at the stadium, featuring various Shepherd Neame beer options.
Urban Baristas, an Australian-inspired artisanal coffee shop, has opened its largest location at London Dock’s Gauging Square. The 2,000 sq ft store features the brand’s first “Coffee Lab,” a training base for employees and a public initiative offering coffee courses. The menu caters to various dietary requirements, including gluten-free, dairy-free, vegan, nut-free, and sesame-free options. The new location aims to bring a touch of Aussie beach culture to the heart of London.
