Welcome to the November edition of Bord Bia's Ireland Market Foodservice Newsletter.
For anyone that missed our end of year Irish Foodservice Seminar that took place at the Killashee House Hotel on November 3rd, you can listen back to video recordings from the event on our dedicated webpage here.
Ibec downgrades growth forecasts for 2023
Business Plus – 03.11.2022
Ibec, the group that represents Irish business, has buttressed the conventional wisdom on the prospects for Ireland’s economy in 2023 with a forecast of 3% growth in domestic demand. The Central Bank has pencilled in growth in Modified Domestic Demand of 2.2% through 2023, in line with the Department of Finance expectation. At ESRI, the state-funded think tank, economists expect that MDD will expand by 7.5% through 2022 and then retreat to a growth figure of 2.5% in 2023. Ibec’s Q3 Quarterly Economic Outlook blames the growth slowdown on high rates of inflation, rising interest rates, accelerated monetary tightening and volatile energy markets. The Ibec views is that while Ireland will avoid a recession, households and businesses will feel the slowdown in many of our major trading partners.
Services sector growth slows in October but outlook is brighter – PMI
RTE Business – 03.11.2022
Services growth slowed again in October, hurt by lagging tourism and leisure activity, but firms across the sector were more optimistic than a month earlier amid a marked rebound for exporters, a survey showed today. The latest AIB S&P Global Purchasing Managers' Index (PMI) for the sector slipped to 53.2 last month from 54.1 in September. But it remained above the 50 mark separating growth from contraction and much stronger than the levels seen in all major trading partners. While the reading marked a 20-month low and a sharp decline from 63.4 in March, before Russia's invasion of Ukraine slowed a period of rapid expansion, the survey's authors said the main components of the survey were quite encouraging.
Cabinet agrees on longer opening hours for pubs, clubs
RTE – 25.10.2022
The Cabinet has agreed the outline of legislation that would allow pubs open from 10.30am to 12.30am, seven days a week, while nightclubs would not have to close until 6am. The changes are expected to be enacted next year if the legislation is passed by the Oireachtas. The Government has also agreed to provide additional supports to help businesses and communities adjust to licensing law changes. Minister for Tourism Catherine Martin said this decision will contribute to a better night-time economy. Nine new pilot cities and towns will now get advisers to help develop a sustainable night-time economy in their areas. These include Dublin city, Cork city, Limerick city, Galway city, Kilkenny, Drogheda, Sligo, Buncrana and Longford town.
Four Star Pizza Partners With BWG Foodservice For Supply Deal
Hospitality Ireland – 21.10.2022
Four Star Pizza has partnered with BWG Foodservice in a multimillion euro deal over the next five years for the exclusive supply of all food ingredients to the Irish-owned pizza group. Commenting on the contract acquisition, Ricky O'Brien, BWG Foodservice director, said, "This contract with Four Star Pizza represents a very significant and unique addition to our business and we are delighted to have been selected as the company's exclusive supplier. Our ability to deliver cost competitiveness through our consolidated supply network, our proven partnership model, our commitment to understanding our customer's needs and our ability to deliver workable solutions were all key factors in securing this deal.”
Hawksmoor for College Green
Hospitality E-News – 01.11.2022
Hawksmoor, a steakhouse group that came together in London in 2006, is to open a restaurant at 34 College Green in Dublin. Co-owners Will Beckett and Huw Gott established Hawksmoor in London initially, and in the 16 years since, the business has expanded into a ten-restaurant group, with their latest opening in New York. The Dublin steak house, which will be located in a former banking hall, previously occupied by Abercrombie and Fitch, is scheduled to open in Spring 2023. "We’ve been coming to Dublin for years to spend time in one of our favourite cities for food and drink, always keeping an eye open for a beautiful space," says Will Beckett. "When we saw the former National Bank on College Green, we fell in love. It’s only taken us 16 years to finally get from London to Dublin, but we can’t wait to open Hawksmoor in what we think is one of the most hospitable cities in the world”.
Bord Bia Hosts Chef And Butchery Pork Masterclass In Partnership With Chef Network
Hospitality Ireland – 26.10.2022
Chefs gathered at the Bord Bia Global Hub in Dublin on Monday 24 October for a chef and butchery pork masterclass, run by Bord Bia in partnership with the Chef Network. Chefs Kwanghi Chan and Tom Flavin and butcher Michael Bermingham led the masterclass, which featured a live butchery demonstration and a culinary inspiration session, to showcase the versatility of Bord Bia quality-assured pork. Throughout the session, the trio explored the versatility of quality-assured pork for foodservice and home dining.
Musgrave announce acquisition of Italicatessan
ShelfLife – 11.10.2022
Musgrave has acquired Italicatessen for an undisclosed sum, subject to approval by the Competition and Consumer Protection Commission. Italicatessen will continue to operate as a standalone business with the existing management team and staff working within the broader Musgrave wholesale business. Italicatessen is a leading importer and distributor of premium quality, authentic Italian food and wines directly from Italy. Based in Wicklow, Italicatessen, employing 75 people, was founded in 2002 as a small family run business and has since grown to service over 900 customers
Hello Fresh launches in Ireland
Checkout Magazine – 25.10.2022
HelloFresh has announced that it has launched a meal kit delivery service in Ireland. The global food solutions group noted that it will operate its delivery service from its recently opened Dublin-based operation. “We are excited to offer customers in Ireland a new cooking experience, distinguished by fresh, local ingredients, a broad variety of dishes, and a maximum amount of convenience. We are looking forward to broadly establishing and leading the meal kit category in Ireland,” commented Thomas Griesel, co-founder and CEO of HelloFresh. HelloFresh noted that it has ‘established close relationships with Irish suppliers and will supply its Ireland-based customers with products using 100% Irish beef, chicken and dairy.’