Today’s news in brief – 20/09/24

Caffè Nero has reported record sales of £147m for Q1, driven by very strong growth in the UK of 12.5% year-on-year and a like-for-like sales rise of 9.1%. The coffee house brand’s Q1 performance was “notably” above the general trend of the F&B sector, marking a continuation of Caffè Nero’s gain of market share in the coffee segment. 

Wingstop UK has appointed Adrian Saunders to lead its acquisitions, having acquired approximately 90 new Frankie and Benny’s and Chiquito locations for The Restaurant Group. He also successfully acquired 45 prime high street and shopping centre sites for Wagamama, including the group’s first New York City location.

Knoops has raised over £1m since its campaign began this Wednesday (18 September) via Crowdcube, the world’s largest equity crowdfunding platform. This makes it the fastest Crowdcube fundraise of any food and drink company so far in 2024. The campaign is part of a wider fundraise being undertaken by Knoops, having been granted EIS approval for £5m. 

JW Lees will acquire The Bellflower pub restaurant in Lancashire from Marston’s for an undisclosed amount. The news comes after the recent acquisition of The Craigside Hotel in Little Orme in Llandudno from Whitbread. JW Lees is a seventh-generation family brewery company, founded in 1828 by retired cotton manufacturer John Lees.