Laurel renames Ha! Ha! to suit clientele

Laurel Pub Company, the managed division of Robert Tchenguiz's pub empire, is undertaking a re-branding tweak at three of Ha! Ha! Bar & Canteen sites.

The venues - in Brighton, Sheffield and in London's Great Titchfield Street - will be re-named Ha! Ha! Bar & Kitchen after customer research during the summer showed a clear preference for the name.

Chairman Ian Payne de-scribed the move as a "small repositioning" with less than £100,000 being spent at the venues to create a "softer" feel. "It doesn't need a major overhaul," he said.

Meanwhile, Payne confirmed that Laurel reviewed up to a dozen rival brands with a view to acquisition. Pitcher & Piano was one brand Laurel considered, although it was clear that Wolves & Dudley had no wish to sell it, he said.

The review of possible acquisition targets comes as the company moves to the end of the conversion programme where existing venues move to the Slug & Lettuce brand. Laurel has around a dozen more sites awaiting conversion to Slug, which is in significant growth in like-for-like terms. "We've very keen to acquire new sites for Slug & Lettuce - we're very bullish about the brand - and we've looked at a number of opportunities," Payne said.

Six months ago, Laurel owner Tchenguiz tabled an unsuccessful 550p-a-share offer for Mitchells & Butlers (M&B). Last week, Tchenguiz was in a position to table a fresh bid for M&B after a six-month regulatory lock-out period. Payne declined to comment on Tchenguiz's plans in respect of M&B. Tchenguiz has a 12% stake in M&B which he acquired for around £300m. He is sitting on a £60m profit after acquiring the stake for less than 500p-a-share on average.

On a possible interest in Punch's core Spirit managed division, Payne said: "I don't think Punch is any hurry to sell it in the short-term. If and when it is for sale, of course

we would (be interested).