Business
Guinness opening £73m London brewery venue this week
Guinness is to open its latest brewery in London later this week after a £73 million investment.
The popular stout brand said it will make four permanent beers from the site in Covent Garden but said this will not include the famous “black stuff”, which will still only be made in Dublin.
It is the latest move by owner Diageo to capitalise on the soaring popularity of the brand in recent years, which has seen social media trends and marketing investment help it bring in more young customers.
Nevertheless, bosses indicated that they believe there is still room to grow Guinness in the UK and in London.
Barry O’Sullivan, managing director of Diageo Great Britain, told the Press Association: “I think there’s still significant upside growth opportunity for us.
“For example, in sport, the highest market shares you see for Guinness in this market is around the timing of the Six Nations.
“Now we are only just getting started on that journey with the Premier League and opens us up to a sport which takes place for the best part of 40 weeks rather than something condensed into a couple months.”
He added that the brand sees more opportunity to grow in the summer and through its 00 non-alcoholic version.
The company will launch the new Open Gate Brewery site on Thursday December 11.
The 54,000sqft venue will run guided tours, tastings and offers two restaurants.
Diageo said the site, which is the fifth Guinness brewery location after two in Dublin and two in the US, will create 250 new jobs.
It said is expects to welcome more than half a million visitors to the new site in its first year.
Grainne Wafer, global director for beer, liqueur and vodka, said the new venue took “at least six years” to come to fruition following the initial idea for the site.
She added: “Selecting London as a location was an obvious choice as Great Britain is our biggest market for Guinness.
“A lot of our visitors to the Guinness Storehouse also come from the UK so there are natural synergies there.”
Rupee tumbled to a record low of 95.40 against US dollar in early trade on Tuesday, falling another 17 paise after already ending the previous session at its weakest-ever closing mark. Previously on Monday, the currency had declined sharply by 39 paise to close at 95.23 against the greenback.This comes as global uncertainty continues to be fueled by intensifying Middle East tensions, dragging down financial markets. Crude oil prices have remained elevated, intensifying concerns around inflation and slowing economic growth. During Monday’s trade, rupee opened at 94.95 in the interbank foreign exchange market before sliding throughout the session to settle at 95.23.The cautious sentiment was reflected on Dalal Street as well as benchmark indices tumbled in red. BSE Sensex was trading at 77,090.12, down 179.28 points or 0.23% as of 9:40 am. NSE Nifty50 also dipped to 24,036.95, down 63.85 points or 0.26%.Dilip Parmar, Senior Research Analyst, HDFC Securities told PTI, “The Indian rupee has hit a record low as the dollar recovered and crude oil prices held firm. This ongoing surge in oil prices, combined with foreign fund outflows, is putting a visible strain on India’s trade balance and broader economy. Persistent dollar demand is expected to keep the pressure on the rupee in the short term, driving the USD/INR higher toward the 95.35 and 95.70 levels.“Foreign Institutional Investors remained net buyers in equities worth Rs 2,835.62 crore on Monday, based on exchange figures. In the commodity market, oil prices continued to soar. Crude oil prices were trading at nearly $113 per barrel on May 5 as fresh attacks in the Strait of Hormuz heightened fears over the stability of the US-Iran ceasefire.
Heineken has announced a substantial investment exceeding £44 million into hundreds of its pubs across the UK, a move expected to create approximately 850 jobs.
The Dutch brewing giant’s Star Pubs operation, which manages 2,350 sites nationwide, is undertaking this significant financial commitment despite a challenging period for the pub sector.
The industry has faced considerable pressure over the past year, grappling with escalating labour costs and increases in national insurance contributions.
Concurrently, consumer spending has been constrained by concerns over inflation and rising unemployment, further impacting pub revenues. However, pubs did receive additional business rates support from the government last month, aimed at alleviating some of these financial burdens.
Lawson Mountstevens, managing director of Star Pubs, indicated that the investment strategy is partly designed to bolster revenues and help the group navigate the recent “sustained increases in running costs”.
This year, £44.5 million will be allocated to upgrades for 647 pubs. A notable 108 of these venues are earmarked for particularly significant cash injections, with each transformation costing at least £145,000.
Heineken clarified that while the majority of its pubs are group-owned, they are independently operated by local licensees. A key focus for this investment, particularly in the lead-up to the 2026 football World Cup, will be on sports-focused venues.
The pub firm and brewer has a history of significant investment in British pubs, having pumped £328 million into the sector since 2018. Work has already commenced at 52 locations, including eight projects dedicated to reopening boarded-up pubs that have endured lengthy closures.
Mr Mountstevens also urged the government to reduce the tax burden on pubs, arguing it would ease cost pressures and foster further job creation within the industry.
He stated: “We can only do so much; the root-and-branch reform of business rates that the industry has been calling for over many years is urgently required, as well as a lowering of the burden of taxation on pubs, including VAT and beer duty.”
He concluded with a direct appeal: “We are calling on the Government to support us in bringing out the best in the Great British pub.”
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Record low: Rupee falls to 95.40 against US dollar – The Times of India
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