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Story of the Day - 3 February 2026
Thesleff Group founder – ‘our next £40m-£50m of investment will go outside the country’, builds US pipeline
Thesleff Group founder Markus Thesleff (pictured) has said the group’s next £40m-£50m of investment will go outside the UK, because “the risk profile no longer makes sense versus the returns”. The group currently operates the Sale e Pepe, Los Mochis, Juno Omakase, Luna Omakase, and Viajante87 concepts in the capital.
Operators of multi-site hospitality companies can book up to three free places, or operators who are Premium subscribers can claim up to four free places by emailing: kai.kirkman@propelinfo.com
Propel Exclusive Report
Propel's Experiential Leisure Report is available now
Propel 500 is back for the second year. It brings together the top 500 players shaping the industry, offering not only comprehensive listings but also deep insights into the forces driving growth, innovation, and transformation across the sector.
Propel 500 provides critical insights into the companies leading the charge in hospitality, including turnover, number of sites, key staff, and more.
The 45,000-word report also includes exclusive analysis providing a full understanding of the market’s dynamics, as the top companies in the sector shift position after a challenging year. Mark Wingett reviews the mergers and acquisitions changing the shape of the Top 500 as size increasingly matters. Katherine Doggrell examines the key developments in UK hotels and looks into one of the sector’s brightest lights; experiential leisure. Tim Street dissects the UK’s rapidly developing franchise market. Data expert Mark Bentley, business development director at HDI, looks at emerging growth sectors, and Meaningful Vision founder Maria Vanifatova analyses the latest trends in the quick service restaurant market.
Get the report
Propel’s 500 Report is available to Premium Club members for free.
To sign up to Premium Club email: kai.kirkman@propelinfo.com
3 February 2026
Punch acquires 30 pubs from McMullen’s
Punch Pubs & Co, the Fortress-backed operator of circa 1,300 community pubs, has completed the acquisition of a 30-strong package of pubs from family-owned brewer and pub operator McMullen’s, for an undisclosed sum. The company said the pubs, which are predominantly leased and tenanted, are located across Hertfordshire and Essex and boast “strong trading histories, distinctive heritage and established positions at the heart of their local communities”.
3 February 2026
Greggs overtakes Costa to become largest overall operator as UK branded coffee shop market grows 3.5% in 2025
The UK branded coffee shop market grew 3.5% in 2025, with Greggs overtaking Costa to become its largest overall operator. Allegra World Coffee Portal’s market report, Project Café UK 2026, shows that 420 net new outlets opened over the last 12 months, as the segment grew to 12,313 outlets.
3 February 2026
Buzzworks reports record turnover of £37.3m, calls for business rates system that supports investment
Scottish independent restaurant and bar operator Buzzworks Holdings has reported turnover increased 8.4% to a record £37.3m for the 53 weeks to 4 May 2025 compared with £34.4m the previous year. The group said it delivered “resilient trading in challenging market conditions” with underlying Ebitda of £3.32m compared with £3.77m the year before, which benefited from insurance income.
3 February 2026
Urban Pubs & Bars delivers group Ebitda of £17m
Urban Pubs & Bars, the London pub operator founded by Malc Heap and Nick Pring and backed by Davidson Kempner and Global Mutual, has said it generated group Ebitda of £17m over the past 12 months, with site Ebitda of £23m, which it called a “major milestone” for the 66-strong business. The Chris Hill-led business said in the last 12 months, it delivered Ebitda after central costs of £17m, an increase of £5m versus reported Ebitda of £12.3m for the financial year ended 27 April 2025 – an uplift of almost 50%.
3 February 2026
Various Eateries CEO – smaller concepts to be converted into Coppa Club and Noci sites, open to taking on third core brand
Various Eateries chief executive Mark Loughborough has told Propel that the group’s smaller concepts are to be converted into Coppa Club and Noci sites, and that it is open to taking on third core brand. The Hugh Osmond-backed business has said it will have a renewed focus going forwards on its 13-strong all-day dining concept Coppa Club and four-strong pasta restaurant concept Noci.
3 February 2026
Ted Kennedy – ‘we were attracted to Peach because it had great pubs and a great future’
Ted Kennedy, who acquired Peach Pubs last week through his new vehicle Coral Pub Company, has told Propel that he was attracted to the 21-strong group because it has “great pubs and a great future” and he will put “operations at the epicentre” of the business. Kennedy, who was previously managing director of Whitbread’s managed pub division and former chairman of Dominion Hospitality, acquired Peach Pubs via a pre-pack administration after the collapse of The Revel Collective.
3 February 2026
Essex operator more than doubles profit
Essex hotel, restaurant and bar company Oysterfleet more than doubled its profit in the year to 30 April 2025. The company – which operates the 41-bedroom Oysterfleet Hotel and adjoining Lighthouse restaurant in Canvey Island and the Oyster Court brasserie and sports bar in Southend – saw pre-tax profit jump from £286,170 in 2024 to £620,469.
3 February 2026
AG Barr acquires Fentimans and Frobishers for combined £51m
Drinks firm AG Barr has acquired soft drinks brands Fentimans for £38m and Frobishers for £13m. AG Barr stated: “Both brands operate in the attractive adult soft drinks market, which is benefiting from the consumer trend of reduced alcohol consumption.
3 February 2026
Peter Begg steps down as head of food development at the Jamie Oliver Group
Peter Begg has stepped down as head of food development at the Jamie Oliver Group after 24 years in the role, which included the initial concept and menu development work for Jamie’s Italian, Fifteen, Union Jacks and Barbecoa. Begg, who joined the Jamie Oliver Group in 2002 after being head chef at The River Café for six years, has left to join UK-based food-technology company, Modern Baker, as its food development director.
3 February 2026
Pitch to accelerate expansion across the UK and abroad through franchising
Golf club concept Pitch, which is the brainchild of friends and golf professionals Elliot Godfrey and Chris Ingham, is set to accelerate its expansion across the UK and abroad through franchising. The business, which has three London locations, opened its first franchise site – and first international location – in November 2024, in Dublin.
3 February 2026
Sourdough Sophia completes £1.5m fundraise, gears up to open 7,000 square-foot production facility
Sourdough Sophia, the London micro bakery concept, has completed a £1.5m fundraise in less than a month which will fund the next stage of its growth, including the opening of a new 7,000 square-foot production facility near London Bridge Station. The completion of the fundraise for the business, which was founded by Sophia Handschuh and Jesse Sutton-Jones in Crouch End, follows two previous £500,000 crowdfunding raises in 2023 and in 2024, which have supported the brand’s expansion thus far.
3 February 2026
Wye Valley reports record year of trading
Herefordshire brewer and retailer Wye Valley Brewery, which operates seven pubs in the region, has reported a record year of trading. Turnover grew from £18,205,890 in 2024 to £19,452,377 in the year to 30 April 2025.
February 2026 ~ Premium Club
Premium Club readers to receive all the videos from Restaurant Marketer and Innovator
Propel Premium Club members are to be given access to the entire recording of the 2026 Restaurant Marketer & Innovator Conference. Members will be sent the video presentations on Friday, 13 February, at 9am.
Official welcome and headlines of 2025: James Hacon, managing partner at Think Hospitality.
Understanding value today: Maria Vanifatova, chief executive and founder of Meaningful Vision.
Market movers: who’s winning and why: Mark Bentley, business development director at HDI.
Inside the boardroom – growth, marketing and what really matters: The panel features Sara McKennedy, managing director at Coco di Mama, Éadaoin McDonagh, chief operating officer at White Rabbit Projects, Laura Irving, managing director at JKS Restaurants, and Marcel Khan, chief executive at Fulham Shore.
Creating a new category – drinking chocolate: Romy Miller, chief marketing officer at Knoops.
From bowl to brand: scaling Pho: Libby Andrews, marketing director at Pho, talks to Charlotte Mair, founder and managing director at The Fitting Room.
The north stars that drive Dishoom: In conversation with Fleet Street Communications chief executive Mark Stretton, co-founder Kavi Thakrar.
Breaking Into Britain: Alexis Melikov, chief executive of Tigermilk.
Fans, not followers: Jordan Graham, founder of Sugar Snap, in conversation with Paul Catterson, director at Orto Pizza, Sam Shephard, founder at Juice Jar, andPeter Coleman, co-founder of Seed
Aqua at 25: stories beyond the view: Marie Guenot, marketing director at Aqua Restaurant Group.
Scaling hospitality marketing without scaling the team: Michael Radley, co-founder at Joli, is joined by Hilary Ansell, marketing consultant and interim marketing director at Wasabi, Hester Mitchell, digital marketing manager at Bleecker Burger, and Tom Patrick, marketing director for Banana Tree and Las Iguanas at Big Table Group.
Big launch energy: Evie Horsell, head of communications UK & Ireland at Big Mamma Group
Generation Z unlocked: Russell Danks, managing director at Laine Pub Co,
Leading with insight – the human side of transformation: Kiran Quinn, group marketing director at RedCat Hospitality
Game on – scaling The Box: Laura Lewis, marketing director at Arc Inspirations.
Pizza with principles: David Tester, head of marketing at Franco Manca, is joined by George Lamb, co-founder of Wildfarmed
Five concepts, one vision — Incipio at Olympia: Rory Graham, marketing and brand director at Incipio Group.
Pubs reimagined: Jayson Perfect, chief operating officer at Butcombe.
What’s Next in Hospitality? The 2026 Playbook: James Hacon, Managing Partner at Think Hospitality.
Feeding the GLP-1 generation: What happens when your customers literally lose their appetite? Katy Moses, managing director at KAM.
Well-being at the centre of socialising. Heleri Rande, partner at Think Hospitality, in conversation with Chris Miller, founder at White Rabbit Projects, Loui Blake, co-founder at Long Lane, and Nicci Clarke, marketing and culinary director UK at Sodexo Live!.
Creative spaces, bold moves: Anthony Knight speaks to Tom Kidd, founder of SetList.
When hospitality meets entertainmentThinking out of the box: Michelle Farrell, chief growth officer at Boxpark.
The neighbourhood effect: Marshall Dallas, Partner at Think Hospitality, speaks with Ankur Wishart, co-founder at Boxcar, and India Filippidis, head of marketing at Boxcar & The Italian Greyhound.
From discounts to desire – reinventing Bella: Megan Trimble, marketing director at Bella Italia
Refreshing tradition: Laura Plum, marketing and communications director at St Austell Brewery.
Reinventing an Icon — The Prezzo evolution: Mark McCulloch MBE, fractional chief marketing officer at Prezzo Italian.
Building the marketing blueprint: Madeleine Phillips, marketing director at Various Eateries.
Scaling hospitality the right way – what every leader can start doing today: Deborah Jones, senior client success manager at Proinsight, speaks to Michael Farquhar, chief operating officer at ETM Group.
Interactive session: Global recruitment – what employees and employers say: Krishnan Doyle, founder at COREcruitment.
The multi-concept challenge: Markus Thesleff, founder of Thesleff Group.
Lines around the block — Dave’s Hot Chicken’s digital activation: Peter Critchley, UK chief executive at Trison, is joined by Keyana Mohammadi, head of marketing at Dave’s Hot Chicken.
Beyond the plate – building brands with global impact: Tessa Graham, group brand director at Tashas Group.
Have a seat at the Bill’s boardroom – how Bill’s turned guests into execs:Olivia Fitzgerald, managing director at 125 Data & Insights, speaks with Tom James, managing director at Bill’s
AI advantage – how smart guest platforms will redefine hospitality marketing: Dan Brookman, chief executive and co-founder of Airship & Toggle
How to think like a behavioural scientist: Daniel Bennett, global head of behavioural science at Ogilvy Consulting: Originality in the age of AI. Heleri Rande, partner at Think Hospitality, in conversation with Afroditi Krassa, founding director of Afroditi, and Bob Conwell, managing director at Mr Lyan Studio. Digital marketing for growth. Carey Benn, chief executive at Guestwise, in conversation with Naddy Onions, marketing director at Prezzo Italian, James Metcalfe, sales and marketing director at Urban Pubs & Bars, and Ewa Turney, senior product lead at Mitchells & Butlers. The Alchemist online – where brand meets technology: Aaron Morgan, head of marketing and Paul Jones, head of IT at The Alchemist.
How data changed everything – a live conversation with Dojo: In Jon Knott, head of data projects at Dojo
Cash-strapped luxury – how younger generations deal in taste, not wealth: Oliver Cousins, strategy director at Screen Pilot,
Serving up loyalty – the future of restaurant dataLaura Vana, associate partner at Think Hospitality, in conversation with Kat Schofield, sales and marketing director at Permanently Unique Group, Holly Hilton, marketing director at Market Place Food Halls, and Ria Pattni, director of marketing at JKS Restaurants.
Scaling with sanity – navigating technology in multi-site growth: Laura Vana, associate partner at Think Hospitality, in conversation with Tasos Gaitanos, co-founder at Brother Marcus, Alex Large, co-founder at Brother Marcus, Tommy Giraux, head of restaurant systems at Honest Burgers, and Bjarke Just Nielsen, director at Norrlyst. Aligning technology for real-world impact: Joe Comiskey, digital director at Stonegate Group.
Pricing optimisation – fixing the execution gap. Joel Robinson, chief executive at Openr, in conversation with Toby Herbert, head of IT at Hall & Woodhouse, Sara McKennedy, managing director at Coco di Mama, and Mark Bentley, business development director at HDI.
The Digital Playbook for Scaling Restaurant Brands. Sophie Clarke, UK team lead at Popmenu, in conversation with Charlie Wood-Jones, Co-founder at Cawsburger.
Experiences That Sell – Gifting, Loyalty & New Revenue Streams: Dan Brookman, chief executive at Airship and Toggle, talks with Matt Preisinger, marketing and brand director at Brewhouse & Kitchen.
A cut above – The Butcher’s Club: Mark Warburton, founder of Cow & Sow and Alan Armstrong, fractional marketing director.
By joining Propel Premium Club members get access to essential insight through Propel Opinion pieces from leading industry commentators, plus our industry-leading databases, receive hospitality’s foremost newsletter first, watch vital video content and get event discounts.
February 2026 ~ Premium Club
Propel 500 is back for the second year. It will bring together the top 500 players shaping the industry, offering not only comprehensive listings but also deep insights into the forces driving growth, innovation, and transformation across the sector. Propel 500 will provide critical insights into the companies leading the charge in hospitality, including turnover, number of sites, key staff, and more. The 45,000-word report will also include exclusive analysis to provide a full understanding of the market’s dynamics, as the top companies in the sector shift position after a challenging year. Mark Wingett will review the mergers and acquisitions changing the shape of the Top 500 as size increasingly matters. Katherine Doggrell will examine the key developments in UK hotels and look into one of the sector’s brightest lights; experiential leisure. Tim Street dissects the UK’s rapidly developing franchise market. Data expert Mark Bentley, business development director at HDI, will look at emerging growth sectors, and Meaningful Vision founder Maria Vantifatova will analyse the latest trends in the quick service restaurant market.
Propel 500 will be released on Friday, 9 January at 9am and is
£595 plus vat.
Existing Premium Club Members can receive it on Friday, 9 January at 9am for
£395 plus vat.
Premium Club members will receive the report for free on Friday, 27 February at 9am.
Pre-order Propel 500 today by emailing: kai.kirkman@propelinfo.com
By joining Propel Premium Club members get access to essential insight through Propel Opinion pieces from leading industry commentators, plus our industry-leading databases, receive hospitality’s foremost newsletter first, watch vital video content and get event discounts.
February 2026 ~ Premium Club
Premium Club Opinion provides weekly insights from industry leaders. In this current edition, Markus Thesleff, Thesleff Group Founder, explains why the government’s policies are hurting more than just the sector. He claims that London investments are legacy only. Unfair business rates and hostile economic policies are crushing hospitality margins, driving talent and capital abroad. Fixed costs, rising crime and taxes deter growth, threaten London’s food leadership, and risk bankruptcies, jobs and long-term damage to UK culture and tourism. Also, Mark Wingett, Propel’s Chief Operating Officer – Editorial, looks at the fallout from The Revel Collective’s break up. He tells how after years of decline, strategic missteps and sector headwinds, Revolution Bars Group—later The Revel Collective—collapsed into administration. Softening late-night demand, covid, rising costs and failed restructurings led to break-up. Neos Hospitality and Coral Pub Company acquired assets, while many sites closed, marking the end of a once-influential UK bar brand. Meanwhile, KAM founder Katy Moses focuses on GLP-1 drugs and the effect their increased usage will have on hospitality. Speaking at Restaurant Marketer & Innovator European Conference (RMI), Katy warned GLP-1 drugs are reshaping hospitality. Millions eat and drink less, but choose venues offering lighter, customisable, transparent menus. Adapting portions, protein, low-alcohol and health-led options is essential, not niche. Lastly, Joaquin Lassala, head of real estate acquisitions at Big Mamma Group, discusses the lessons the business has learned opening 20-plus restaurants across Europe.Big Mamma’s expansion shows restaurant growth is fundamentally real estate-led. Success depends on micro-location fit, market-specific definitions of “prime,” strong local partnerships, design flexibility and disciplined pacing. Thoughtful site selection and deep local insight protect brand, culture and long-term performance. Big Mamma’s expansion shows restaurant growth is fundamentally real estate-led. Success depends on micro-location fit, market-specific definitions of “prime,” strong local partnerships, design flexibility and disciplined pacing. Thoughtful site selection and deep local insight protect brand, culture and long-term performance.
By joining Propel Premium Club members get access to essential insight through Propel Opinion pieces from leading industry commentators, plus our industry-leading databases, receive hospitality’s foremost newsletter first, watch vital video content and get event discounts.
February 2026 ~ Premium Club
Mark Wingett’s Premium Club Diary delivers insider sector gossip every week to Premium Club members. In this week’s edition, Propel highlights contrasting developments across the UK hospitality sector, spanning administration, stalled deals, new investment and diversification. Competitive socialising brand Sixes, backed by England cricketers including Ben Stokes, entered administration after a challenging trading period. Founded in 2020, the business expanded rapidly to 16 cricket-themed venues but has since closed several sites, including Fulham, Birmingham and Southampton, as well as its Moonshot baseball concept. Twelve sites remain, and a potential rescue involving secured lenders Aurora Leasing and Vantage Capital is being explored. Cornish Bakery, founded in 1994 and now operating 73 sites, explored a sale after strong trading and ambitious growth plans. Despite interest from private equity firm LDC and trade buyer Gail’s, negotiations failed due to valuation differences, leaving the business independent for now. Also, JKS Pubs completed a management buyout backed by a US-based tech investor, enabling founders JKS Restaurants to exit. The three-site London group will rebrand as Ardent Pub Group and plans up to eight new openings over the next three to five years. Meanwhile, Brighton-based Black Rock Restaurants has entered the pub sector with The Crazy Goose, replacing its former Coal Shed site. The opening reflects a flexible, all-day pub model as the group strengthens its senior team with a new marketing director.
By joining Propel Premium Club members get access to essential insight through Propel Opinion pieces from leading industry commentators, plus our industry-leading databases, receive hospitality’s foremost newsletter first, watch vital video content and get event discounts.
2 February 2026
Various Eateries – current trading ‘encouraging’, returns to like-for-like growth and reports record adjusted Ebitda
Various Eateries, the Hugh Osmond-backed (pictured) business that operates the Coppa Club and Noci concepts, has said trading to date in its current financial year has been “encouraging” as it reported a return to like-for-like growth and record adjusted Ebitda. The company stated: “The festive period was particularly strong, with trading materially ahead of the wider market.”
2 February 2026
Boxpark sees turnover pass £20m but losses widen as consumer spending softened
Boxpark, the LDC-backed business, posted turnover of £20,364,506 for the year to 30 April 2025 (2024: £19,907,882) but saw its pre-tax losses widen as trading conditions became more challenging during the latter months of 2024 as consumer spending softened. The company, which operated six locations in Shoreditch, Croydon, Wembley, Liverpool, Camden and Boxhall at Liverpool Street Station at year end, posted a pre-tax loss of £11,972,229 (2024: loss of £3,778,202).
2 February 2026
Grind – turnover tops £35m, completes £7.5m funding round
Coffee shop operator and wholesaler Grind has reported turnover of £35,294,176 for the year to 30 April 2025 (2024: £29,771,754) as it said it saw another strong year of growth across its high street, online, and grocery businesses. The David Abrahamovitch-led business said its revenue streams continued to diversify, with sales split roughly 35% from its 15 high street stores, 40% from online and 25% from grocery and B2B wholesale partners, which it said reflected “Grind’s transformation from high street only to a truly omni-channel coffee brand”.
2 February 2026
Chef Simon Shaw continuing to look at expansion opportunities for his concepts, doubles pre-tax profit
Chef Simon Shaw (pictured) has said he is continuing to look for expansion opportunities for his El Gato Negro, Canto and Black Cat Club concepts, and that he is looking to expand his restaurants and the latter experiential format into other cities – but warned that cost challenges will continue into 2026. It comes as parent company Mills Hill Development, of which Shaw is chef patron and creative director, posted turnover of £12,265,484 for the year to 30 April 2025 (2024: £11,006,327), with a pre-tax profit of £518,004 (2024: £234,989).
2 February 2026
UK restaurants offer deep discounts in ‘last resort’ to lure spend-shy diners
UK restaurants and fast-food chains are resorting to unusually steep discounts and special offers as they try to lure cautious consumers who have shunned splashing out on a meal in favour of building savings. The FT reports that the deals, including a second main course for just £1 at PizzaExpress, have been described by analysts as a “last resort” as the sector struggles to emerge from a prolonged slump since the pandemic and the cost-of-living crisis that followed.
2 February 2026
Record number of breweries shut down across Britain
Britain is losing breweries at the fastest rate in 50 years under Labour, with three shutting their doors for good every week last year. The Telegraph reports that the number of independent breweries fell by 8% to 1,578 last year, according to the Society of Independent Brewers and Associates (SIBA).
30 January 2026
Mediterranean inspired London restaurant concept Drunch eyeing UK-wide estate and further international expansion
Mediterranean inspired London restaurant concept Drunch has told Propel it is eyeing a UK-wide estate plus further international expansion beyond its planned Middle East debut. Drunch, founded in 2013 by Hom Malass, opened its first site in Mayfair and has since added locations in Oxford Circus, Notting Hill and Regent’s Park.
30 January 2026
Soho House completes £2.7bn deal to go private
Soho House has completed its $2.7bn deal to go private, with chief executive Andrew Carnie calling it a “positive step” for the international members club business. The international hospitality group is based in London but went public on the New York Stock Exchange in 2021.

Watch highlights from this year’s Propel summer conference and party.
Video presentations of all the speakers are available to Premium Club members, join to unlock exclusive access to 100 insightful videos each year.
To view pictures from the event click here
22 April 2025
Unlock the Power of Change: Download McCain's Impact Report Today!
McCain’s Streets Ahead Programme, powered by KERB, is transforming the UK street food scene by empowering the next generation of entrepreneurs, particularly those facing barriers to entering the hospitality industry.
7 October 2024
Meet Maral, the visionary behind Ayal: Sharing Turkmenistan’s Flavours with London’s Streets
With the help of the McCain Streets Ahead programme, Maral turned her dream into a thriving business. Through Ayal, she offers Londoners a taste of Turkmen cuisine, from Manti dumplings to traditional palav, highlighting the rich heritage of her culture.
9 September 2024
Meet Eman and Bisan Bites: Bringing Palestinian Flavours to London's Streets
In 2022, Eman embarked on a journey to bring the authentic taste of Palestinian cuisine to the street food scene of London. Seeking guidance from the Streets Ahead programme, she transformed her passion into a reality, creating Bisan Bites a business that celebrates her heritage.
17 July 2024
Taste Uzbekistan: The Street Food Duo sharing the traditions and flavours of Central Asia
In 2022, Akbar and Sanobar joined the Streets Ahead program with a clear vision: to become the ultimate destination for food enthusiasts seeking an authentic and immersive experience.
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Conferences, study trips, and propel multi club
Upcoming Events
March 25th 2026
Propel Multi Club — New directions in a period of strong headwinds
Operators of multi-site hospitality companies can book up to three free places, or operators who are Premium subscribers can claim up to four free places by emailing: kai.kirkman@propelinfo.com