Chilango launches burrito bonds to fund expansion with free food June 10, 2014 A MEXICAN food chain has come up with a more appetising way of raising funds for expansion after launching a retail bond that rewards its investors with burritos. Chilango, which was founded in 2007 by ex-Skype executives Eric Partaker and Dan Houghton, launched the new “burrito bond” yesterday on crowdfunding platform Crowdcube to raise between [...]
Investors back brand takeover at Communisis June 10, 2014 SHARES in Communisis, the Leeds-based marketing firm, jumped 2.6 per cent yesterday after announcing it had acquired brand response and customer relationship marketing firm The Communications Agency for £8m. The takeover of the London-based group is set to broaden Communisis’ business operations and its client portfolio. “The Communications Agency is a long-established, award-winning and well-respected [...]
Fuller’s clinches £7.3m cider and pizza business June 10, 2014 FULLER, Smith and Turner has taken a 51 per cent stake in cider and restaurant business The Stable. The £7.3m deal, which also sees Fuller’s take the freehold of The Bull Hotel in Dorset, is expected to be profit-neutral for the first year as four of The Stable’s six outlets have opened in the last [...]
Spirit Pubs is looking forward to summer as drink takings increase June 10, 2014 SPIRIT Pubs, the firm behind brands such as Chef & Brewer, Flaming Grill and Fayre & Square, reported a six per cent rise in quarterly sales due to the sunnier weather during the period. Shares in the firm closed up 0.64 per cent at 78.5p yesterday after Spirit reported a 7.1 per cent rise in [...]
WPP swoops for London-based Precise Media to boost Kantar June 10, 2014 MARTIN Sorrell’s WPP yesterday announced the takeover of London-based media monitoring firm Precise for an undisclosed sum. The deal, made through WPP’s data investment management arm Kantar Media, will see Phoenix Private Equity sell the firm it bought in 2006 from 3i for £42m. “This acquisition strengthens the global expertise of Kantar Media in delivering [...]
Imperial set for £1.1bn Logista listing in Spain June 10, 2014 IMPERIAL Tobacco yesterday announced its intention to list its European logistics business Logista on the Spanish stock market with a sale of shares to institutional investors that could see the business valued at £1.1bn. Imperial took control of Logista, which distributes products for Imperial and other tobacco makers in southern Europe, when it acquired Franco-Spanish [...]
Auto-enrolment plugs private pension hole June 10, 2014 WORKERS in private firms have started plugging the gaping hole in their pension pots, a study from Scottish Widows shows today. Staff are saving an average of 11.1 per cent of their income towards their pensions this year, up from 9.6 per cent last year. As a result 53 per cent of the population is [...]
Botox firm Allergan knocks back new $53bn bid from Valeant June 10, 2014 BOTOX producer Allergan yesterday rejected a revised $53bn (£32bn) bid from Valeant and hedge fund billionaire Bill Ackman’s Pershing Square Capital Management. The offer included $72 in cash and 0.83 Valeant shares. The teaming up of activist investor and strategic buyer has set a new precedent for the industry, and with Allergan playing hard to [...]
Doctors pressure Cameron over cig packets June 10, 2014 A GROUP of 600 doctors and nurses have published an open letter to Prime Minister David Cameron, urging him not to stall plans for plain packaging of cigarettes. Despite cross-party support for plain packets and a promise to publish details in April, ministers have since gone quiet on the issue, sparking concern that it has [...]
Co-op Bank in ethics drive June 10, 2014 The Co-op Bank will tomorrow launch a consultation on its ethics and behaviour, in a new bid to convince customers it has not lost its values thanks to having new owners. The bank is now majority owned by a group of hedge funds, with the Co-operative Group holding a stake of just over 20 per [...]
