Welcome to the May Edition of Bord Bia's Ireland Market Foodservice Newsletter.
Less than four weeks before Bord Bia Bloom 2024 kicks off in the Phoenix Park. We are looking forward to welcoming Irish retail and foodservice buyers on-site for an early morning networking breakfast on Friday, May 31st. Following the breakfast, buyers will have advance access to both the Bloom Inn and Food Village, where over 100 leading Irish food and drink businesses will be showcasing their products. https://www.bordbiabloom.com/
Monthly Spotlight: Digital Detox
Amidst a world that is becoming increasingly digital, some consumers are choosing to take a break.
Founded in Amsterdam in February 2024, The Offline Club is a pioneering venture that provides a face-to-face refuge from the omnipresent digital world.
Rapidly evolving from a local project to a global phenomenon, The Offline Club demonstrates a significant trend toward prioritising real-world connections over the deluge we face with our digital devices.
On Wednesday, May 22nd the Offline Club is hosting a Digital Detox hangout in Westerkerk church, Amsterdam where instead of scrolling, 300 guests will engage in everything from reading, journaling, drawing, painting and listening to live piano music.
General Industry News
Relief for hospitality sector as street furniture fees waived
Business Post – 30.04.2024
Businesses in the hospitality sector are set to save on street furniture licences as the government has announced plans to waive the fee for the remainder of this year. It marks the fourth consecutive summer that the government has not enforced the payment - which tallies at €125 per table - after it was first lifted to support businesses reopening in 2021 after Covid-19 closures. The extension of the waiver is set to support businesses such as hotels, restaurants, pubs and signals the government’s aim is to support businesses, according to Darragh O’Brien, the Minister for Housing.
Inflation rate slows to 1.6% in year to April - flash CSO reading
RTE Business – 29.04.2024
The latest "flash" estimate of inflation from the Central Statistics Office shows that the annual rate slowed to 1.6% in the year to April from a rate of 1.7% in the year to March. The CSO said this compares to a rate of 2.4% in the EU Harmonised Index of Consumer Price inflation (HICP) for the euro zone over the same time. Today's figures show that energy prices are estimated to have increased by 1% in the month and decreased by 6.3% over the 12 months to April, while food prices are estimated to have gone up by 0.6% in the last month and risen by 2.6% compared to April last year.
Quick Service Restaurant (QSR) & Pub Sector
Maxol launches ‘Homegrown at Maxol’ 2024 programme
Shelf Life – 15.04.2024
Maxol has launched year two of its Homegrown at Maxol programme. The inaugural programme highlighted the genuine need within the food and drinks sector for a support programme of this nature. Providing direct and practical support to local food and drink businesses, a panel of industry experts will select four winners, each of whom will have the opportunity for their products to be distributed across the network of Maxol stores in Ireland. All four winners will also receive marketing support to help elevate their brand, together with invaluable business mentorship. Entry to the programme is open until 9 June 2024, you can apply here.
Guinness To Kick off Festival of Summer Events
Hospitality Ireland – 03.05.2024
Guinness has announced it will launch the brewery’s first ever open-air music concert this May with an event called 'Lovely Day to Open the Gates.' Lovely Day to Open the Gates will offer guests 'festival vibes' with a custom-built music stage and a food offerings from Man Street Kitchen, Mani Pizza, Mamma’s Boy Food, Mushroom Butcher and Bish Bosh featuring local dishes inspired by the flavours of Guinness. The next day Guinness will hit the road for the start of its Live & Rising summer series of events. Fresh from their performance at Lovely Day to Open the Gates, the line up of special guests will celebrate 'the magic of an Irish pub' in summer in Cork and Belfast.
Hotel & Restaurant Sector
McKillen jr secures sale of The Dean hotels in deal valuing the group at €355m
Business Post – 10.04.2024
Paddy McKillen jr and Matt Ryan have finalised the deal to sell The Dean Hotel Group in a deal that has valued the properties at close to €355 million. The deal has now paved the way for the partners behind Oakmount, who retain a small stake in the business, to expand The Dean hotel brand into Europe and US. The portfolio of hotels has been sold by Oakmount to Lifestyle Hospitality Capital, a British property firm, and Elliott Investment Management, which was founded by billionaire Paul Singer.
Over 200 restaurants closed in first three months of year at cost of €288m to state
Business Post – 16.04.2024
Over 200 restaurants, cafés and other food-led businesses shut in Ireland in the first quarter, costing the state €288 million and leading to the loss of 4,664 direct jobs, according to a report from the Restaurants Association of Ireland (RAI). 101 businesses in the hospitality sector closed in January, followed by 71 in February and 40 in March, according to Vision Net and sole trader figures compiled by the RAI. This is on top of the 283 closures in the last six months of 2023. Analysis conducted by Jim Power, a leading economist, has found one closure leads to the loss of €1.36 million to the economy, 22 direct jobs and 13 indirect jobs.
Route to Market / Contract Catering Sector
Just Eat Takeaway reports 11% growth in UK and Ireland in first quarter of 2024
Propel – 17.04.2024
Just Eat Takeaway has reported 11% growth in its UK and Ireland operations in the first quarter of 2024. In a trading update, the company said its UK and Ireland business accelerated gross transaction value (GTV) growth to 11% (7% constant currency) in the first three months of the year. It also reported continued momentum in GTV growth in Northern Europe and constant currency GTV growth, excluding North America, of 3% in the first quarter, within the 2024 guidance range of 2% to 6% year-on-year.
Hot school meals programme expanded with 900 more locations joining scheme
The Irish Times – 15.04.2024
The hot school meals programme has been expanded with 900 more primary schools joining the scheme. Around 150,000 additional children will now benefit from the scheme, following the announcement on Monday by Taoiseach Simon Harris and Minister for Social Protection Heather Humphreys. The school meals programme was first introduced in 2003. However, hot meals became a part of the programme in 2019, starting with a pilot scheme of 37 schools.