Craft beer maker Brewdog snaps up Draft House pub chain
Under the deal, the Scottis...
Independent craft brewer BrewDog has snapped up the Draft House chain of pubs, in one of its first ever major acquisitions.
Under the deal, the Scottish firm will buy all 14 Draft House sites, increasing the number of UK bars it owns by more than a third, from its current 33.
All 213 of Draft House employees are to be kept on at Brewdog, and the company said that it would be investing in the sites with possible expansions being explored.
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Charlie McVeigh, who founded the business nine years ago, said that the businesses “couldn’t be in better hands” as he handed the reins over to David McDowall, managing director of BrewDog’s bars business, who will now become the managing director of Draft House.
“I am immensely proud of what we’ve achieved together and delighted to hand the business over to BrewDog for its next stage of growth,” McVeigh added.
Alongside its UK sites, BrewDog also has 17 international bars with locations in the US, Australia and Italy.
The transaction values the Draft House brand at around £15mn, the Telegraph said according to sources close to the matter.
Speaking of the purchase, McDowall said: “At BrewDog we are obsessed with making other people as passionate about craft beer as we are, and in speaking with the Draft House team we recognised that there was a great opportunity to combine our efforts and really have an impact on the UK bar landscape by working together.”
He added: “Draft House has got an incredible team of engaged people and we’ll be doing everything we can to empower them in their business and offer them the support they need to achieve their career goals. The two most important things for us are our beer and our people and we’re excited to extend that to our new family at Draft House and would like to offer a massive welcome to every single one of them.”
Starbucks to open 10,000 sustainable stores in bid to save US$50mn
The plans come under an initiative called the “Starbucks G...
Starbucks has announced plans to open 10,000 “greener stores” around the world by 2025
The plans come under an initiative called the “Starbucks Greener Stores Framework”, which the coffee company will develop with experts in the field such as SCS Global Services, and the World Wildlife Fund.
Kevin Johnson, Starbucks’ CEO, said in a company statement that Starbucks has a responsibility to promote environmental sustainability.
“We are a company in [sic] that believes, in the fabric of mission and values, that the pursuit of profit is not in conflict with the pursuit of doing good”.
The announcement aligns with Starbucks’ efforts over the past decade to create sustainable buildings, working in partnership with the US Green Building Council.
The company has said it will go beyond the Leadership in Energy and Environmental Design (LEED) sustainable building criteria, which it developed alongside the US Green Building Council, to focus on powering its stores in the US and Canada with 100% renewable energy.
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Starbucks plans to introduce technology to both new buildings and in renovations of existing stores that will save 25-30% on energy and water use.
Marketing Magazine said this could save Starbucks around US$50mn incrementally over the next decade.
This year, Starbucks committed to eliminate its reliance on single-use straws in 28,000 stores by 2020, and also said that it is developing compostable paper cups.