Foodstuffs, the UK’s largest franchisee of chain restaurants, is valued at around £3bn, according to the company’s latest annual report.
The chain, which was founded in 1887, has more than 2,500 restaurants in England and Wales.
It owns a number of pubs and a range of other businesses, including the Royal Court Hotel and the famous St James’ Park pub, which attracts crowds of tourists and celebrities.
In 2016, FoodStuff saw its turnover rise from £3 million to £2.8m, as it expanded its business across the UK.
FoodStacks franchisee Stephen Dorsett told The Financial Post the company had enjoyed a solid start to 2017, with a record profit of £1.5m, which has been boosted by the UK launch of the PrimeTime service in December.
“We have been enjoying a fantastic year.
We have been making great progress with our new partnership with PrimeTime and we have been able to continue to improve our food and beverage service, particularly in London,” he said.
Dorsets UK sales in the first quarter of the year, which ended in March, jumped 28 per cent from a year earlier, to £3m.
Foodstacks also recorded a £2m profit in the UK, down from £4.2m a year ago.
The company has also boosted its international business.
In the first half of the calendar year, Foodstills UK expanded its restaurant portfolio to include the UK opening of PrimeTime, which allows customers to order a meal from an app.
The PrimeTime launch comes after the company launched a new service in 2017 which allows users to order meals online.
Food Stuffs franchisees are looking to grow their UK franchisees to more than 200,000 in 2020 and in 2021.
Food Stores is owned by British retailer Boots, which is majority owned by Tesco.
The news comes as the UK Government plans to increase the minimum wage to £9.00 an hour by 2020.
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