NewsDigest

Agilo, a London-based investment firm, has bought bar operator Sports Cafe for an undisclosed sum. The firm has acquired five of the eight sites placed in administration earlier this month, in Birmingham, Leeds, London, Glasgow and Newcastle. Administrators Baker Tilly closed two of the remaining bars in Manchester and Liverpool last week, with a third site in Bristol still under its control. Like-for-like sales at Sports Cafe were reportedly down 23% in December.

Charles Wells has broken the £200m turnover barrier for the first time in the company's history, according to results published by the Bedford brewer today. The first set of financial accounts published since the forming of Wells & Young's Brewing Company show that turnover has increased by 28% and profit by 2%, leading to a profit after tax of £7.87m. The financial report also showed the settling of a £10m deficit on the Charles Wells pension scheme through the creation of the brewing company.

Punch Taverns has signed a new three-year contract worth £150m with gaming-machine provider Gamestec. The firm operates more than 8,000 machines for Punch. The pubco's group commercial director Jonathan Pavely said the contract "is a reflection of our confidence in Gamestec's capability to meet our needs".

Britvic has announced the appointment of Simon Stewart, former marketing director of media group Emap, as its new marketing director. Stewart will be responsible for developing and marketing the brand portfolio, overseeing brand marketing, innovation and corporate affairs. Stewart has also held marketing roles at Coca-Cola and Diageo. Britvic chief executive Paul Moody said: "Simon brings to the business a proven track record in building brands."

Don't miss the February issue of PubChef, out with next week's Morning Advertiser. Learn more about beer and food matching, the new Michelin- star pubs and how to give classic pub dishes a twist.