Today’s news in brief – 02/10/24

Shepherd Neame’s revenues have hit a “record” £172.3m for the year ended 29 June, following strong performances in London and its tenanted pubs division. It comes as divisional revenues in tenanted pubs grew by 5.1% to £35.6m during the year, with divisional underlying operating profits inching up to £12.8m from £12.6m in 2023.

QSRP has acquired a majority stake in Chopstix for an undisclosed sum. The partnership is aiming to accelerate growth and innovation for both QSRP and Chopstix across the UK and Europe. It will enable Chopstix to accelerate its expansion plans, enhance its digital and delivery capabilities, and introduce new menu innovations.

Food and beverage M&A activity saw a YoY rise of 32.4% in Q2, with 49 transactions completed, according to a new report from corporate finance house, Oghma Partners. The estimated deal value surged to approximately £6bn, primarily driven by a few large deals such as Carlsberg/Britvic, Carlsberg/Marston’s, and Newlat/Princes. 

Basingstoke’s Festival Place shopping centre will welcome three new F&B outlets – Boswells, Heavenly Desserts and Wagamama. Family-run cafe Boswells will operate from a 4,766 sq ft space, Heavenly Desserts from a 1,300 sq ft premises and Wagamama will be upsizing its existing space to create room for 46 extra diners.