The co-founder of BrewDog is selling off personal property assets linked to the craft brewer ahead of a planned flotation amid concerns over potential conflicts of interest. James Watt told The Times (£) that his remaining property holdings rented to the Scottish brewer were “in the process of being divested” and that three sites he owned and leased to BrewDog had been sold in the past two years.
The co-founder and chief executive of BrewDog, Britain’s most successful craft beer business, is a self-styled “punk” who has called venture capitalists “toads” and City types “fat cats”, while repeatedly criticising the established giants of the brewing industry (The Times £). Now it is James Watt’s own business dealings that are in the spotlight.
A man who won a “solid gold” can of BrewDog beer has been left disappointed after the prize, which the Scottish brewery claims is worth £15,000, turned out to be largely made of brass (The Guardian).
UK bakery chain Greggs said sales continued to beat its 2019 figures despite greater competition from dine-in venues that were able to reopen in May (The Financial Times £).
High Street favourite Greggs has said sales have remained strong despite the government giving the green light to indoor dining within hospitality venues (The Mail).
The group, which is known for its sausage rolls and steak bakes, said that there had been a “sustained sales recovery” that was “stronger than we had anticipated” (The Times £).
Molson Coors is to build a new “hard seltzer” canning line as part of a £25m investment in its brewery in Burton-on-Trent (The Times £).
The UK government has held emergency talks with retailers, logistics groups and wholesalers as a shortage of lorry drivers threatens to leave gaps on supermarket shelves (The Guardian).
One of Coca-Cola’s biggest bottlers has acquired a 30% stake in a 140-year-old Italian coffee roaster Casa Del Caffè Vergnano as the fizzy drinks company boosts its foothold in the lucrative coffee market (The Times £).
North Carolina has become the first US state to reach a settlement with Juul over the company’s role in popularising e-cigarettes among young people (The Financial Times £). Juul will pay $40m and make “drastic changes to the way it conducts business” as part of the consent order, according to a statement on Monday from the office of Josh Stein, North Carolina’s attorney-general.