Bar operator Arc Inspirations is set to accelerate its growth after securing a £19m investment from growth capital investor BGF for a minority stake in the business. The capital will give the Martin Wolstencroft-led business the ability to double its estate over the next few years by opening multiple bars in major UK cities, deploying its 'cluster' strategy, reports Pub & Bar. The deal marks the first time Arc has introduced external investment to the group.
Institute of Economic Affairs head of lifestyle economics Chris Snowdon looks at how a study by the University of Stirling has made young adults more likely to shun drinking over the use of health warnings on them, advises Morning Advertiser. Young adult drinker are more likely to perceive alcohol products as "unappealing" and "socially unacceptable" if they display prominent health warnings, according to new research.
D&D, who operate prominent London venues such as the Bluebird in Chelsea and Skylon on the South Bank is understood to be exploring a sale after prior talks with a London-based investment firm fell through. Sky News reported that LDC, the private equity arm of Lloyds Banking Group which has owned a majority share in the business since 2013, has appointed Interpath Advisory to launch a sale process for the group, which is estimated to be worth around £100m. D&D was reported to be close to being bought by Montecito Equity Partners last year, however Sky said the talks failed to result in a deal.
Staffing issues continue to set back hospitality's recovery from Covid-19, according to CGA and Fourth's Business Leaders' Survey. The poll of sector leaders showed intense competition for team members. Three in five (59%) said they will recruit at a greater rate than usual this year, a jump of 13 percentage points since the last confidence survey in December, advises The Caterer.
Drinks giant Diageo is offering pubs, restaurants, and bars the chance to transform their outdoor sports areas with a £2.4m initiative, advises Big Hospitality. The support, offered through its Raising the Bar programme, which first launched in 2020, will help venues in their post-pandemic recovery by giving them the opportunity to maximise their outdoor spaces with things such as awnings, standalone bars and outdoor seating.
Saved from demolition the Metropolitan Arcade at Liverpool Street, London is now being reinvented as a food hall. It's going to be the first of a series of spin-off concepts from Boxpark called BoxHall, reports Hot Dinners.