Today’s news in brief – 30/10/23

Red Oak Taverns is set to acquire 17 pubs from St Austell Brewery’s leased and tenanted estate by the end of October. The acquisition includes locations in Cornwall, Devon, and Somerset. Red Oak already owns 212 pubs, primarily leased and tenanted, with a presence in the Midlands, South, North West, and South West of England. This acquisition will further extend its footprint in the South West.

The number of licensed premises in the UK has dropped by nearly a third, falling below 100,000 for the first time in 20 years, according to data from UKH and CGA by NIQ. The most significant losses were in drink-led pubs, bars, and nightclubs, which experienced a net decline of 43.6% over the period. In contrast, managed sites increased by 14.6%, while independent venues saw a 32.9% decline. Eating venues increased by 14.8%.

Average drink sales in managed venues saw a marginal year-on-year drop of 0.2% in the week ending 21 October, according to data from CGA. Storm Babet led to a decline in sales, despite two England rugby World Cup games, with daily sales down 10% on 18 October and 6% on 20 October. Drinks sales were 5% up on 15 October and 21 October, the days when England played Fiji and South Africa respectively. Beer and cider saw the most growth, with beer sales up 4% in its 11th consecutive week of growth. Wine sales increased 0.2%, while spirits sales decreased 9%.

Consumers are still keen on desserts despite the cost-of-living crisis, according to new research from Mademoiselle Desserts and CGA. The study indicates that fewer than one in five (18%) consumers are cutting down on the number of courses they order, while eating out due to rising household costs. Furthermore, dessert sales have been impacted by the addition of calorie counts to menus, with a quarter (25%) of consumers saying they are consuming desserts less frequently due to new calorie legislation.