Brazilian trio takes Burger King for $4bn September 2, 2010 A LITTLE-KNOWN private equity firm stunned Wall Street by taking over troubled fast food chain Burger King in a $4bn (£2.6bn) deal yesterday. Analysts began talking about a potential wave of takeovers in the restaurant sector after 3G Capital, a New York-based vehicle run by three Brazilian billionaires, agreed a $24-per-share offer with the company’s [...]
HSBC warns over UK banking exodus September 2, 2010 A LITTLE-KNOWN private equity firm stunned Wall Street by taking over troubled fast food chain Burger King in a $4bn (£2.6bn) deal yesterday. Analysts began talking about a potential wave of takeovers in the restaurant sector after 3G Capital, a New York-based vehicle run by three Brazilian billionaires, agreed a $24-per-share offer with the company’s [...]
CARLUCCIO’S SOLD IN £90m DUBAI DEAL September 2, 2010 Italian restaurant chain Carluccio’s yesterday agreed to a £90.3m takeover by Middle Eastern retail giant Landmark Group. Dubai-headquartered Landmark has offered 142p a share in cash for Carluccio’s, which has 47 restaurants and food shops in the UK. Landmark plans to keep on Carluccio’s existing management team, including chief executive Simon Kossoff and chairman Stephen [...]
Restaurant Group profit surges September 2, 2010 The Restaurant Group – which owns Garfunkel’s, Chiquito, Frankie & Benny’s – yesterday reported an upturn in profit despite the ash cloud crisis which hit its airport concessions. It saw its pre-tax profit rise 13 per cent to £24.6m in the six months to July. The company raised its interim dividend ten per cent to [...]
FOCUS ON: POTTERS BAR September 2, 2010 NORTHAW ROAD WEST, NORTHAW, Price: £299,950 Not perhaps your typical first home, but this two-bed country cottage offers sufficient living space and a pretty back garden. Grade II-listed, the cottage has been recently modernised by the current owners so the property doesn’t require further decoration or works. The village has two gastro pubs. Contact: Savills [...]
Johnson Service Group shares surge as work wear business performs well September 1, 2010 laundry firm Johnson Service Group yesterday reported a 17 per cent increase in first half pre-tax profit yesterday benefiting from a strong performance from its work wear rental business. The company made an adjusted pre-tax profit of £6.2m in the six months to 30 June, up from £5.3m in the same period last year. “I [...]
FOCUS ON: WEMBLEY, HA9 August 26, 2010 CENTRAL APARTMENTS From £230,000 Ideal for first-time buyers, this new development comprises 113 apartments. All flats are open-plan and have their own balconies with views as far as the London Eye. Contact: St Modwen’s on 0844 371 1301, www.wembley-central.co.uk MIDHOLM £470,000 It’s in need of some modernisation, but this three-bed detached property is an ideal [...]
WHAT THE OTHER PAPERS SAY THIS MORNING August 25, 2010 FINANCIAL TIMES US CHAINS BEEF UP MEALS TO LIFT PROFITS Fast-food chains in the US are rolling out more expensive premium products after two years of relentless focus on lower priced meals in the hope of recouping profit margins surrendered during the recession of 2008 and 2009. McDonald’s is selling a “smokehouse deluxe” burger in [...]
GOING OUT August 25, 2010 IT may still be peak holiday season but in our cosmopolitan capital you can complete a world tour whenever you like by taking a glamorous (if slightly less exotic) journey around London’s more exclusive international nightlife. Starting with Japan, the chic Kyashii has just re-launched on Upper St Martin’s Lane offering a sophisticated, ultra modern [...]
M&B to offload pubs for £373m August 20, 2010 Pubs and restaurants group Mitchells & Butlers (M&B) has announced plans to sell 333 pubs as it concentrates on its premises offering food. The pubs are being sold to Stonegate Pub Company – which is controlled by TDR Capital – for £373m. Earlier this month, M&B announced the sale of its Hollywood Bowl 10-pin bowling [...]