Call off the search: Michelin starred chefs have found the best pie in Britain… and it’s from an unlikely source July 21, 2016 The search is over. Michelin starred chefs, master butchers and industry experts have done the hard work for you, and crowned Morrisons £1.50 humble pork pie the best in Britain. Morrisons Caramelised Onion Lattice Pork Pie, as it is officially known, is sold at the chain's Market Street deli counters and weighs in at a [...]
Pub industry raises a glass as Pubs Code finally implemented after two months of delays July 21, 2016 After almost two months of delays the Pubs Code will come into force today. Tied pub tenants of the six largest pub-owning companies, including Enterprise Inns and Punch Taverns, will now have the legal right to the Market Rent Only option under the code at rent review or renewal. This means they will no longer have [...]
Megabrew deal: US Department of Justice gives clearance to AB InBev’s takeover of SABMiller July 20, 2016 The US Department of Justice has given the green light to Anheuser-Busch InBev’s (AB InBev) proposed takeover of British drinks giant SABMiller with conditions. AB InBev, the world’s largest brewer, has agreed to divest SABMiller’s interest in MillerCoors to Molson Coors if the “megabrew” takeover goes ahead. In April, a US antitrust organisation flagged "serious competitive [...]
Home counties sparkling wine producer Gusbourne launches booze bond, backed by majority shareholder Lord Ashcroft July 20, 2016 English sparkling wine maker Gusbourne has launched a bond issue to raise up to £10m to put towards its home counties vineyards. Gusbourne placed up to £10m of five-year secured deeply discounted bonds yesterday, which can be converted into shares at a later date. Conservative peer Lord Ashcroft, who owns nearly two-thirds of the company, [...]
Mondelez makes sweet offer for Burton’s Cadbury biscuits licence July 20, 2016 Global food giant Mondelez International has approached Burton's Biscuits to buy its Cadbury licence. Burton's, which also produces Wagon Wheels and Maryland cookies, makes biscuits including Cadbury Fingers under licence from Cadbury UK. The proposal was valued at around £200m, Sky News first reported, though sources said the talks were still at an early stage [...]
Megabrew deal: SABMiller board meets to discuss shareholder concerns over AB InBev takeover ahead of AGM July 20, 2016 The SABMiller board of directors will today discuss frustration among some of its FTSE 100 shareholders over the proposed terms of the AB InBev "megabrew" takeover deal. Disgruntled activist investors, which include the hedge fund Elliott, are unhappy with the proposed £44 per share deal that was announced last November. They believe the other stock [...]
Japan Tobacco International launches £5m job fund in Northern Ireland town where it is closing factory next year July 20, 2016 Big Four cigarette maker Japan Tobacco International (JTI) has launched a £5m jobs fund in Northern Ireland, where it will be closing a factory next year. JTI announced last year it will close the Lisnafillan manufacturing site, which employs more than 800 people, following "challenging economic conditions" and "greater regulatory tax pressures". The company said [...]
Here’s how much Euro 2016 boosted pub turnover in June, according to the Coffer Peach Business Tracker July 20, 2016 Televising the Euro 2016 championship gave pub groups something to celebrate in June, despite England dropping out before the last rounds of the tournament. Like-for-like sales at pubs grew two per cent year-on-year in June, ahead of the restaurant sector, where growth trailed slightly behind at 1.4 per cent, according to the latest monthly figures from [...]
Smooth move: Unilever hopes to sharpen up its business with takeover of razor startup Dollar Shave Club July 20, 2016 Consumer goods giant Unilever has expanded its men's grooming offerings by snapping up the US-based razor startup Dollar Shave Club. The financial terms of the deal have not been disclosed, though sources told Fortune Unilever paid $1bn (£760m) for the razor subscription company. Unilever said in a statement Dollar Shave Club's chief executive Michael Dubin will [...]
There is now a “Come What May” beer to celebrate Theresa May’s first PMQs July 20, 2016 In the summer that brought us Brexit beers and referendum beermats, it's no surprise that ale is still political and there is now a Theresa May-themed beer to cheers with ahead of her first Prime Minister's Questions today. "Come What May", a new brew inspired by the prime minister, will be available in two pubs [...]
