Mergers & Acquisitions

🎄 Blenheim Palace experienced a 50% increase in group visits during the 2024 festive season with its Neverland themed Christmas event, in partnership with Great Ormond Street Hospital. Key events for 2025 include the Blenheim Palace Food Festival (24th – 26th May), Flower Show (27th – 29th June), and a Jousting Tournament (3rd – 5th May). Planning is already in progress for Christmas 2025. The success supports the hospital with each ticket sold.

🍔 New York-based Goode Partners LLC invests in Texas-based Wings ‘N More Restaurants LLC, which operates seven locations in College Station/Bryan, Corpus Christi, and Houston. Wings ‘N More, founded in 1986 by former NFL player Mark Dennard, features a full-service and express model offering wings, ribs, and more. Goode Partners, also an early investor in Chuy's in 2006, alongside debt financing from Gladstone Capital Corporation, aims to accelerate Wings 'N More's expansion. Dennard expresses excitement for the brand's growth and new opportunities for team members.

📦 Just Eat started exploring the sale of Grubhub in April 2022, aiming to focus on its strongest markets. Grubhub, not yet profitable with declining order volumes exacerbated by New York delivery fee caps, was sold at a 90% discount compared to its 2021 purchase price, effectively a 94% discount when adjusted for inflation. Just Eat Takeaway.com's CEO, Jitse Groen, sees the sale as a way to enhance cash generation and accelerate growth. The US startup Wonder, which acquired Grubhub, previously bought meal kit company Blue Apron. Wonder aims to integrate Grubhub's offerings into its 'super app'. Shares in Just Eat rose 19% after the sale announcement, with the deal's completion expected in the first quarter of 2025, pending regulatory approval.

🍜 Neat Burger, backed by Lewis Hamilton and Leonardo DiCaprio, experienced closures of outposts in New York and Dubai recently. Originally launched in September 2019, Neat Burger had ambitions to expand to 1,000 locations by 2030. Despite raising $18 million in 2023, the company made a £7.9 million loss in 2022 and was forced to close half its London locations amid financial pressures, leaving four in the capital. The brand also rebranded, removing 'Burger' from its name and shifting towards health-focused options. Neat maintains a presence in Milan, Italy.

📉 Hostmore, the UK parent company of TGI Fridays, has halted its £177m all-share reverse takeover of TGI Fridays US. The decision came after TGIF Funding lost control of the franchise agreement royalties, jeopardizing future revenue. Despite the abandoned acquisition, negotiations may resume in the future. Hostmore's UK sale of TGI Fridays' 87 corporate sites is nearing completion, but is expected to not cover Hostmore’s debts. The company anticipates winding up and delisting following the sale. On September 9, Hostmore’s stock nose-dived by over 90%.

📈 Richard Caring is nearing a £1bn deal with Si Advisers for Troia (UK) Restaurants, the parent company of The Ivy Collection, initiated in January. The agreement, possibly within weeks, involves a full exit for Caring and a Qatari fund selling shares. In 2023, Troia's turnover rose by over £100m to £302m, with a pre-tax profit increase from £20.4m to £29m and EBITDA up from £37.9m to £54.8m, following The Ivy Asia expansion.

🙌 Nando's offers a Level 2 Hospitality Team Member Apprenticeship for individuals over 16 in England, with a 15-month syllabus including customer service and leadership training. Launched last year, the 'Hospitality Heroes' program received 114 applicants and those now over halfway will graduate in 2023. Apprentices earn full-time salaries with benefits like free meals, up to 40% discount, and a paid sabbatical after five years. The initiative, partnered with Lifetime Training, aims to develop future managers within Nando’s.

🏨 Room Mate Hotels acquired Staying Valencia, adding over 500 rooms and five restaurants to its brand. With this, Room Mate's portfolio grows to 32 hotels across Spain, Italy, the Netherlands, the UK, and Turkey. TPG Angelo Gordon and Westmont Hospitality, Room Mate's co-owners since 2022, support the brand's growth trajectory, aiming for a €40 million EBIT and a debt-free status by 2025. Advisors included Clifford Chance, Perez Llorca, Jones Lang LaSalle, PwC, and Arcadis, with JJL advising Staying Valencia.

📊 Forwrd.ai acquires LoudnClear.ai, expanding its no-code data science automation capabilities for RevOps. The merger adds integrations with Salesforce Service Cloud, Zendesk, and Intercom. Kobi Stok, CEO of Forwrd.ai, highlights seamless creation of predictive models without data science teams. Organizations spent $104 Billion in 2023 on data science, with the market expected to grow to $776 Billion by 2032. The AI-driven platform aims to solve costly complexities in data science projects, where 87% fail.