Story of the Day:
Imbiba closes £90m funding round, invests in gym brand 1Rebel
13 May 2024
Sector investor Imbiba, which backs the likes of Farmer J, Pizza Pilgrims, Clays and F1 Arcade, has announced the final close of its oversubscribed £90m second fund.
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Other News:
13 May 2024
Pizza Pilgrims, the pizzeria brand, has reported record results and laid out plans to expand into Scotland and Wales.
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13 May 2024
Cafe and lifestyle brand EL&N is looking to ramp up its international expansion plans and has begun the process of securing new partners across the globe.
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13 May 2024
Wimpy is targeting expansion in the north, Midlands and Scotland in the UK, and is open to more non-high street formats.
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13 May 2024
James Watt (pictured), co-founder of BrewDog, has said that his decision to step down as the chief executive of the brewer and bar operator is something he has been considering for a while, and is independent to the possibility of an IPO of the business
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13 May 2024
Andrew Carnie, chief executive of Soho House, has said that when its members are coming into its club across the globe “they’re just spending a little bit less, a little bit more cautiously”
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13 May 2024
The Rum Kitchen, the Caribbean-inspired restaurant and bar concept, is set to be placed into administration after closing all four of sites.
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Old Spike Roastery – ‘will need to look at investment later this year to continue growth trajectory’
13 May 2024
Social enterprise Old Spike Roastery has told Propel it will need to look at investment later this year in order to continue its growth trajectory.
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13 May 2024
Great Yarmouth-based brewer Lacons is looking to get back into the pub operating business and has launched a project to reclaim some of its former sites.
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13 May 2024
North west brewer and retailer Daniel Thwaites has hired Michael Horan, formerly of Greene King and YO! Sushi, as its new operations director.
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10 May 2024
Punch Pubs & Co, the Fortress Investment Group-backed business, has reported “encouraging” trading to date in its third quarter, (covering the eight weeks to 21 April 2024), with profitability ahead of the prior year.
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10 May 2024
Roy Ellis (pictured), chief executive of Mission Mars, has told Propel that he hopes the group’s upcoming Albert’s Schloss opening in London’s Soho will prove to be a calling card for international opportunities for the Alpine-inspired beer hall, bar and restaurant concept.
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10 May 2024
Gordon Ramsey has revealed that revenues at his restaurant empire are set to pass £100m this year.
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10 May 2024
PizzaExpress will make its airport debut with the opening of a site in partnership with Airport Retail Enterprises in London Gatwick’s South Terminal later this month.
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10 May 2024
Franchise pizza concept Boss Pizza, founded during the pandemic by Ajmal Mushtaq, has signed up a master franchisee to accelerate its expansion in Scotland.
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10 May 2024
Food-to-go operator Greggs has opened its 2,500th site, in Cobham, Surrey, which the company said was a “key step” towards its vision of operating significantly more than 3,000 shops in the UK.
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10 May 2024
Pasta Evangelists has hired former Starbucks head of property acquisitions and franchise store development Axel Bret to lead its expansion plans.
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10 May 2024
Pub operator Brakspear has added to its estate in Gloucestershire, with the acquisition of The Lamb near Bourton-on-the-Water.
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9 May 2024
JD Wetherspoon chairman Sir Tim Martin (pictured) has told Propel that trade at the weekends and in big cities is “very good”, and while sales have significantly surpassed pre-covid levels, getting back to that level of profitability is proving “more difficult”.
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9 May 2024
Big Fang Collective, the Imbiba-backed entertainment venue operator that owns the Golf Fang brand, has hired Clive Consterdine, formerly of Zonal and Wireless Social, as its new non-executive chairman.
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9 May 2024
Fast pizza brand Fireaway, the Mario Aleppo-led business, has opened its first site in Portugal, with an opening in Turkey set to soon follow.
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9 May 2024
McManus Pub Company has paid off £1.5m of its bank debt following the sale of four pubs but also made an impairment loss of £898,068 on the disposals.
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9 May 2024
Boutique bowling company Lane7 has hired Lucy Sontae, formerly of Everyman, as its new operations director, as it secures a new site in Altrincham.
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