Mitchells and Butlers, which operates more than 2,000 pubs and restaurants across the UK, is experiencing an increase in the amount of food served. The increase of more than seven per cent was seen in the nine weeks to the middle of September. M & B brands include Harvester, All Bar One and Toby Carvery. Chief executive Adam Fowle commented on the performance of his company relative to the current economy, saying: “This is a very encouraging performance, particularly given the present consumer economy, and underlines the strength of the Mitchells and Butlers business. I am pleased at the speed of delivery on our strategic plan.”
M & B had other big news to announce on Friday, as they are increasing the number of locations by purchasing the 22 Ha Ha Bar and Grill sites for almost 20 million pounds. The acquisition was funded by the non food sites’ proceeds of about 500 million pounds, and dumping the bowling business, Hollywood Bowl, to AMF for almost 40 million ponds.
Since the smoking ban, food led pubs have become increasingly more popular. M & B now has a conglomerate of restaurants and food led pubs totaling about 1,600. The group is planning an investment strategy next year of about 200 million pounds into single site and small acquisitions, as well as conversions.
Results for the end of the year will be released on November 23 for the group, which serves 125 million meals and 450 million drinks per year.