In Other News...
Starbucks UK franchise business gets cash injection
Connection Capital, the specialist private client investment business, has invested a further £3.6m into Starbucks UK franchised business 23.5 Degrees to fund its expansion plans. This is the second time Connection Capital’s private investor clients have invested in 23.5 Degrees following a £5.6m initial investment of growth capital in 2015.
Since the original investment, the company has opened 40 new stores across the UK, including twelve “drive-through” stores, and has just celebrated the opening of its 53rd store, in Peterborough.
Pret A Manger reports strong results
Pret A Manger, which was bought by JAB Holdings earlier this year, has unveiled group sales up +13.2% to £878.5M for the year ending 28th December 2017. Like-for-like sales were up by 3.2%.
Pret revealed it had opened its 500th shop worldwide in 2017, including its first outlet in Singapore.
Clive Schlee, chief Executive of Pret A Manger, said: “This is another satisfactory set of results for Pret, and our 34th consecutive quarter of like-for-like sales growth.”
Esquires opens site in Tunbridge Wells
Esquires Coffee, the expanding coffee shop chain, has opened its 37th UK site in Tunbridge Wells.
The new store will offer a range of Fairtrade and organic coffee, teas and chocolate, as well as food from brunch and lunch through to dinner, and a children’s menus.
The chain has a total of 54 sites across the UK and Ireland.
Government could ban caffeine and energy drink sales to children
The government has launched a consultation seeking views on ending the sale of energy drinks to children.
It proposes that a ban would apply to drinks that contain more than 150mg of caffeine per litre.
It follows the publication of the latest chapter of the government’s childhood obesity plan in June 2018, which outlines a series of measures as well as a commitment to halve childhood obesity by 2030.
Lincoln & York reports increased turnover and profits
Lincoln & York, the coffee roasting specialist, has reported turnover and profits up for the year ended 31 January 2018.
Turnover increased by £6,470,314 from £28,082,550 to £34,552,864. Gross profit increased by £2,841,444 from £6,973,225 to £9,814,669. While operating profits increased by £1,665,312 to £4,596,903.
It said that progress had been maintained in the first half of the current financial year.