Friday Wrap: 23 September 2005

23 September 2005
Friday Wrap: 23 September 2005

Two weeks ago sources were insisting that it wasn't for sale, this week it's been flogged for £60m.

Yes, Strada, the chain of 22 Italian eateries has been given the elbow by parent company Signature Restaurants, and been adopted instead by retail mogul Richard Caring, owner of the Ivy.

Another bit of M&A news coming out of leftfield was Alias Hotels putting itself on the market on Wednesday after buying out its JV partner GuestInvest.

More predictable was yet another deal in the ever-changing pubs landscape. Spirit was in the thick of the action this time, selling off its city-centre boozers for £177m.

No sale on the cards, however, at Compass, the company insists. It is playing down reports that it has put travel concessions business Select Service Partner on the market. Will they too change their tune in a couple of weeks?

The old Jurys Doyle saga is dragging on a bit, though, with the Doyle family the latest to enter the fray, lining up an £800m bid.

Expect Mrs Doyle from Father Ted to join the race next week. "Will you have another offer, Mr Jury? Ah, go on. Go on, go on, go on, go on."

Also in the news:

  • Initial Catering, under pressure from the media, was forced to introduce healthier school meals in the London Borough of Merton
  • …but a new City & Guilds course on providing healthier school meals was slated as too airy-fairy
  • Thistle Hotels appointed Dino Michael from Giraffe to beef up its F&B
  • Alan Jackson said he would step down as executive chair of Garfunkels owner The Restaurant Group
  • Pub group Barracuda snapped up a couple of awards
  • Regent Inns released some rather dull financials

Quote of the Week:

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