View Full Version : Pubco. mergers.
Bucking Fastard
24-08-2017, 16:08
I see that Revolution Bars Group ,famed for it's Revolucion de Cuba brand have agreed to a cash offer from Stonegate Pub Group (Slug & Lettuce,Walkabout,Yates among other brands)
It wont tempt me over the threshold ,and at £101.5M it's not a huge deal,but the trend of consolidation continues in the crazy world of the Pubco's.
NickDavies
25-08-2017, 08:44
For their 11 bars, that's around £9M an outlet, which suggests they're hugeley profitable.
Bucking Fastard
25-08-2017, 09:24
For their 11 bars, that's around £9M an outlet, which suggests they're hugeley profitable.
I think Revolutions Bar Group had 66 outlets including the more mundane Revolutions bar concept ,but thats still an average of £1.5m each .
http://www.morningadvertiser.co.uk/Legal/Property-law/Patron-completes-1.8bn-deal-to-buy-3-200-Punch-pubs-plus-Heineken
Bucking Fastard
28-08-2017, 11:42
http://www.morningadvertiser.co.uk/Legal/Property-law/Patron-completes-1.8bn-deal-to-buy-3-200-Punch-pubs-plus-Heineken
That's interesting.
Seems to me there is a Big Eight in the Pubco world after some recent transactions,figures from a quick trawl around wiki.
1. Stonegate -- 4500
2. Greene King -- 2700
3 Heineken ( Star ) -- 2400
4. Mitchell & Butler -- 1800
5. Admiral -- 1600
6.Marstons -- 1400
7 Punch (Fortress) -- 1300
8. Wetherspoons -- 900
I make that a total of 16,600 pubs,34% of the market.
Is anyone aware of something I've missed ,or gross inaccuracy in these figures ?
Aqualung
28-08-2017, 13:55
That's interesting.
Is anyone aware of something I've missed ,or gross inaccuracy in these figures ?
It's not a gross inaccuracy but I can safely say now that JDW have 876 open outlets including the 5 in Eire and the 16 airport ones. This figure is definitely correct to plus or minus 5. It doesn't include any closed for refurbishment but will go down further as they still have ones to get rid of. It will be 877 tomorrow when they open that new micro in Ramsgate.
Does the Stonegate figure include various ex JDW sites? Did I see something recently about them taking over a pub chain? I'm surprised the Punch figure is so low.
Bucking Fastard
28-08-2017, 14:00
It's not a gross inaccuracy but I can safely say now that JDW have 876 open outlets including the 5 in Eire and the 16 airport ones. This figure is definitely correct to plus or minus 5. It doesn't include any closed for refurbishment but will go down further as they still have ones to get rid of. It will be 877 tomorrow when they open that new micro in Ramsgate.
Does the Stonegate figure include various ex JDW sites? Did I see something recently about them taking over a pub chain? I'm surprised the Punch figure is so low.
The Stonegate figure includes their completed purchases from Wetherspoons and I also assumed their recently announced takeover of Revolutions would go through.The link from hondo above explains what has happened to Punch,and how their estate has been split up.
Aqualung
28-08-2017, 14:31
The Stonegate figure includes their completed purchases from Wetherspoons and I also assumed their recently announced takeover of Revolutions would go through.The link from hondo above explains what has happened to Punch,and how their estate has been split up.
So if Heineken are taking 1900 from Punch didn't they already have a sizeable estate? I've no idea what the figure is but they took over a load of Greenall outlets back in the 1990s. I assume they must still have some from Courage and S&N days.
Bucking Fastard
28-08-2017, 15:13
So if Heineken are taking 1900 from Punch didn't they already have a sizeable estate? I've no idea what the figure is but they took over a load of Greenall outlets back in the 1990s. I assume they must still have some from Courage and S&N days.
Good point,more research required !
Their pubco subsidiary already had 1,100 before the Punch takeover,so this will rise to 3,000 ,just behind GK.Table updated,thanks
sheffield hatter
31-08-2017, 15:41
JDW have 876 open outlets including the 5 in Eire and the 16 airport ones. It will be 877 tomorrow when they open that new micro in Ramsgate.
:)
"the move will “enhance choice for both tenants and consumers and provide a platform for further growth at "
http://www.telegraph.co.uk/business/2017/09/04/magners-owner-cc-snaps-47pc-stake-admiral-taverns/
Bucking Fastard
04-09-2017, 10:39
"the move will “enhance choice for both tenants and consumers and provide a platform for further growth at "
http://www.telegraph.co.uk/business/2017/09/04/magners-owner-cc-snaps-47pc-stake-admiral-taverns/
Thanks hondo,that's another pubco I missed on my original list ,now updated.
Aqualung
04-09-2017, 10:57
Thanks hondo,that's another pubco I missed on my original list ,now updated.
And another one to add to my AVOID list.
"the move will “enhance choice for both tenants and consumers and provide a platform for further growth at "
http://www.telegraph.co.uk/business/2017/09/04/magners-owner-cc-snaps-47pc-stake-admiral-taverns/
Eh? (part 1)
“For us it provides market access,” said C&C chief executive Stephen Glancey. “So we will be able to drive our brands through their estate over time.
“Vertical integration in the UK has always been a successful model. You have Fuller’s and Young’s, for example – they own pubs and they own breweries. That secures a space in the bar for their brands and they use that to enhance the business.
“For brewers and drinks companies to have some sort of ability to influence the choice in pubs is still very relevant.”
Quoting Young's as an example of a vertically-integrated company in 2017?
Eh? (part 2)
Investing £37 million for 47% of a pubco with 845 pubs works out at £93k per house which is either: a) a bargain; or b) shows that Admiral Taverns has a basket-case of an estate (that can't even have much of a 'change of use' upside). So bearing in mind part 1, how good was their due diligence?
"which owns 230 pubs, saw pre-tax losses hit £8.9m in 2016 from £5.8m the prior year"
http://www.telegraph.co.uk/business/2017/09/04/pub-group-hawthorns-losses-widen-due-cost-refinancing/
Bucking Fastard
05-09-2017, 19:03
Eh? (part 1)
“For us it provides market access,” said C&C chief executive Stephen Glancey. “So we will be able to drive our brands through their estate over time.
“Vertical integration in the UK has always been a successful model. You have Fuller’s and Young’s, for example – they own pubs and they own breweries. That secures a space in the bar for their brands and they use that to enhance the business.
“For brewers and drinks companies to have some sort of ability to influence the choice in pubs is still very relevant.”
Quoting Young's as an example of a vertically-integrated company in 2017?
Eh? (part 2)
Investing £37 million for 47% of a pubco with 845 pubs works out at £93k per house which is either: a) a bargain; or b) shows that Admiral Taverns has a basket-case of an estate (that can't even have much of a 'change of use' upside). So bearing in mind part 1, how good was their due diligence?
I suppose it's quite possible that b) might be the answer.What isn't clear is how much debt is associated with the pub estate,and this could be via a securitisation.Also 47% is still a minority equity position which much attract some kind of valuation discount.
Maybe it's a "cheap" deal for a very good reason.;)
Bucking Fastard
05-09-2017, 19:09
"which owns 230 pubs, saw pre-tax losses hit £8.9m in 2016 from £5.8m the prior year"
http://www.telegraph.co.uk/business/2017/09/04/pub-group-hawthorns-losses-widen-due-cost-refinancing/
Looks like some larger Pubco. will take out this group to bulk up their estate. The UK pub sector in general is a very mature industry so more consolidation seems likely until the competition authorities begin to concern themselves about monopoly /ologopily influence ................. which must still be a long way off.
london calling
05-09-2017, 20:33
That's interesting.
Seems to me there is a Big Nine in the Pubco world after some recent transactions,figures from a quick trawl around wiki.
1. Enterprise -- 5500 pubs approx
2. Greene King -- 3000
3 Heineken ( Star ) -- 3000
4. Mitchell & Butler -- 1800
5.Marstons -- 1700
6 Patron (ex Punch) -- 1300
7.Wetherspoons -- 900
8. Stonegate -- 800
9. Admiral -- 800
I make that a total of 18,850 pubs,38% of the market.
Is anyone aware of something I've missed ,or gross inaccuracy in these figures ?
You can knock Admiral (845 pubs) of that list as they were bought today by C&c group who own Tennants and Magners cider
Bucking Fastard
06-09-2017, 07:28
You can knock Admiral (845 pubs) of that list as they were bought today by C&c group who own Tennants and Magners cider
The announcement about Admiral was a change in the share ownership of this pubco.If (and more likely when ) C&C gain majority control,I will change the name from Admiral to C&C.
stonegate
https://www.morningadvertiser.co.uk/Article/2017/09/15/Stonegate-Pub-Company-buys-Sports-Bar-and-Grill
stonegate
https://www.morningadvertiser.co.uk/Article/2017/09/15/Stonegate-Pub-Company-buys-Sports-Bar-and-Grill
This report quantifies Stonegate's estate as 665, rather than 800...
Bucking Fastard
15-09-2017, 20:41
This report quantifies Stonegate's estate as 665, rather than 800...
Fair point.I took the 703 figure in this article and then assumed that they would also complete the Revolutions deal taking them to 771.I'll keep an eye on developments,but they do seem to be hoovering up pubs and bars at quite a rate.
That's interesting.
Seems to me there is a Big Nine in the Pubco world after some recent transactions,figures from a quick trawl around wiki.
1. Ei Group (formerly Enterprise ) -- 5000 pubs approx
2. Greene King -- 3000
3 Heineken ( Star ) -- 3000
4. Mitchell & Butler -- 1800
5.Marstons -- 1700
6 Patron (ex Punch) -- 1300
7.Wetherspoons -- 900
8. Stonegate -- 800 (assuming Revolutions Bars deal closes )
9. Admiral -- 800
I make that a total of 18,300 pubs,37% of the market.
Is anyone aware of something I've missed ,or gross inaccuracy in these figures ?
From 'London Drinker' (August/September 2017):
"M&B have sold 73 pubs - 65 freeholds and eight leaseholds - to a property investment group called Aprirose for £40 million. According to a report in the Times, these will form a new chain called Milton Pubs and Taverns along with 35 sites they already own. This makes Aprirose, who I admit I had never heard of, the 11th largest pub group in the country."
However, the "11th largest pub group in the country" claim must be way out.
That's interesting.
Seems to me there is a Big Nine in the Pubco world after some recent transactions,figures from a quick trawl around wiki.
1. Ei Group (formerly Enterprise ) -- 5000 pubs approx
2. Greene King -- 3000
3 Heineken ( Star ) -- 3000
4. Mitchell & Butler -- 1800
5.Marstons -- 1700
6 Patron (ex Punch) -- 1300
7.Wetherspoons -- 900
8. Stonegate -- 800 (assuming Revolutions Bars deal closes )
9. Admiral -- 800
I make that a total of 18,300 pubs,37% of the market.
Is anyone aware of something I've missed ,or gross inaccuracy in these figures ?
I've just read in another Camra newsletter that Hawthorne Leisure have 255 pubs.
I've just read in another Camra newsletter that Hawthorne Leisure have 255 pubs.
which will diminish by the month as they flog them off...
Bucking Fastard
18-09-2017, 09:25
From 'London Drinker' (August/September 2017):
"M&B have sold 73 pubs - 65 freeholds and eight leaseholds - to a property investment group called Aprirose for £40 million. According to a report in the Times, these will form a new chain called Milton Pubs and Taverns along with 35 sites they already own. This makes Aprirose, who I admit I had never heard of, the 11th largest pub group in the country."
However, the "11th largest pub group in the country" claim must be way out.
It seems to me the second division of pub ownership groups have less than 500 pubs,probably due to 2016 legislation for groups larger than this.Thanks for contributions from Dave M and Aqualung.
Trust Inns -- 500
Fullers -- 380
Shepherd Neame -- 350
Robinsons --280
Thwaites -- 275
Brains -- 270
Youngs -- 270
Wadworth --240
Charles Wells -- 200
Sam Smiths -- 200
Again apologies if I have missed some obvious names.
Aqualung
18-09-2017, 10:02
Again apologies if I have missed some obvious names.
Shepherd Neame and Thwaites are in this category. Hal & Woodhouse) have only 190, I would have guessed over 200.
Even in early CAMRA days Sheps were larger than the other Southern independents but now they are roughly the same as Fullers. Fullers however now have some big pubs.
Bucking Fastard
18-09-2017, 10:10
Shepherd Neame and Thwaites are in this category. Hal & Woodhouse) have only 190, I would have guessed over 200.
Even in early CAMRA days Sheps were larger than the other Southern independents but now they are roughly the same as Fullers. Fullers however now have some big pubs.
Thanks for the correction,I've made an edit on the second division.
It seems to me the second division of pub ownership groups have between 200 and 360 pubs ,namely Fullers,Robinsons,Brains,Hawthorn,Youngs and Charles Wells.There is quite a gap between this group and Admiral at the bottom of the big league. Again apologies if I have missed some obvious names.
Of course it is worth noting that the relatively new pub code (https://www.gov.uk/government/publications/pubs-code-and-adjudicator/pubs-code-and-adjudicator) has stricter rules for pubcos with over 500 tenants.
So for example Trust Inns appear to have an estate of between 4-500 and I sense that they are happy to stay around that level.
Bucking Fastard
18-09-2017, 10:32
Of course it is worth noting that the relatively new pub code (https://www.gov.uk/government/publications/pubs-code-and-adjudicator/pubs-code-and-adjudicator) has stricter rules for pubcos with over 500 tenants.
So for example Trust Inns appear to have an estate of between 4-500 and I sense that they are happy to stay around that level.
Thats interesting Dave and does explain a 500 pub threshold .I have editted my original post to reflect this.
Pubsignman
18-09-2017, 14:30
Again apologies if I have missed some obvious names.
The only one I could think of was Wadworth - their website claims they have 240 pubs.
Bucking Fastard
18-09-2017, 15:14
The only one I could think of was Wadworth - their website claims they have 240 pubs.
Good point,thanks .
It seems to me the second division of pub ownership groups have less than 500 pubs,probably due to 2016 legislation for groups larger than this.Thanks for contributions from Dave M and Aqualung.
Trust Inns -- 500
Fullers -- 360
Shepherd Neame -- 350
Robinsons --280
Thwaites -- 275
Brains -- 270
Wadworth --240
Hawthorn -- 225
Youngs -- 220
Charles Wells -- 200
There is quite a gap between this group and Admiral at the bottom of the big league. Again apologies if I have missed some obvious names.
A few more minor players from the Independent Family Brewers of Britain website:
Arkell's - 103
Bateman's - "nearly 70"
Brakspear - "over 150"
Everards - "over 175"
Harvey's - 49
Holts - 122
Hook Norton - 47
Hydes - 58
Lees - 172
McMullen - 128
Palmers - 55
St Austell - "over 170"
A few more minor players from the Independent Family Brewers of Britain website:
Arkell's - 103
Bateman's - "nearly 70"
Brakspear - "over 150"
Everards - "over 175"
Harvey's - 49
Holts - 122
Hook Norton - 47
Hydes - 58
Lees - 172
McMullen - 128
Palmers - 55
St Austell - "over 170"
And some more numbers here (although its not clear how up-to-date this is):
http://www.pubexpertsguide.co.uk/listing.cfm?CategoryID=7
And some more numbers here (although its not clear how up-to-date this is):
http://www.pubexpertsguide.co.uk/listing.cfm?CategoryID=7
Sam Smiths - "in the region of 200" (https://www.samuelsmithsbrewery.co.uk/pubs/)
Sam Smiths - "in the region of 200" (https://www.samuelsmithsbrewery.co.uk/pubs/)
New River Retail - 344 (http://www.nrr.co.uk/portfolio/pub-portfolio)
Bucking Fastard
19-09-2017, 17:36
New River Retail - 344 (http://www.nrr.co.uk/portfolio/pub-portfolio)
Many thanks for these last two additions to the Second Division ,update on post #26.
https://www.morningadvertiser.co.uk/Article/2017/10/03/JW-Lees-hungry-for-acquisitions-in-the-north-west
https://www.morningadvertiser.co.uk/Article/2017/11/02/Admiral-Taverns-takeover-Heineken-sites
https://www.morningadvertiser.co.uk/Article/2017/11/02/Admiral-Taverns-takeover-Heineken-sites
Accompanying picture taken in the Nags Head before they flogged it on the quiet. Bunch of tossers.
Mobyduck
03-11-2017, 22:01
Bunch of tossers.
Yup.
Aqualung
03-11-2017, 23:45
Accompanying picture taken in the Nags Head before they flogged it on the quiet. Bunch of tossers.
I assume you mean the Reading one, what's the story? Surely the Nags Head wasn't part of a chain?
My only known experience of Admiral is that they shut a perfectly good pub in Chingford Hatch which became a care home for coffin dodgers, mot a JDW I hasten to add.
Mobyduck
04-11-2017, 07:30
I assume you mean the Reading one, what's the story? Surely the Nags Head wasn't part of a chain?
My only known experience of Admiral is that they shut a perfectly good pub in Chingford Hatch which became a care home for coffin dodgers, mot a JDW I hasten to add.
Quinno will know more than me, and correct me if I'm wrong but Admiral were the owners and cocked up from their point of view (everybody else's gain) by giving the Nags a free of tie lease, they have now sold on the lease (on the quiet at the time) to an individual who has left the pub to run on as before,or more likely can't do anything for the duration of the lease which I think has something like around 5 years left on it, what happens after that we will have to see.
Aqualung
04-11-2017, 08:55
Quinno will know more than me, and correct me if I'm wrong but Admiral were the owners and cocked up from their point of view (everybody else's gain) by giving the Nags a free of tie lease, they have now sold on the lease (on the quiet at the time) to an individual who has left the pub to run on as before,or more likely can't do anything for the duration of the lease which I think has something like around 5 years left on it, what happens after that we will have to see.
Thanks for the explanation, most of the pubs in my area are Enterprise but two (the Bell and Rose & Crown) are able to sell almost whatever they want. You would think that these pubcos and regional brewers would learn a lesson from places like this. Instead they just spout out a load of meaningless drivel about themselves aka "Marketing Speak".
Mobyduck
04-11-2017, 09:20
aka "Marketing Speak".
aka crap. :mad:
london calling
04-11-2017, 19:23
Thanks for the explanation, most of the pubs in my area are Enterprise but two (the Bell and Rose & Crown) are able to sell almost whatever they want. You would think that these pubcos and regional brewers would learn a lesson from places like this. Instead they just spout out a load of meaningless drivel about themselves aka "Marketing Speak".
Those pubs will have had to pay a hefty fee to be free of tie.Sometimes its added to the price they pay for beer or in the case of the Bree Louise (about 5 years ago) they had to pay £30,000 up front to get a free of tie beer lease.
Butcombe Brewery acquires eight pubs from SA Brain's
https://www.morningadvertiser.co.uk/Article/2017/11/08/Butcombe-Brewery-acquires-eight-pubs-from-SA-Brain
"100+ million anytime"
https://www.morningadvertiser.co.uk/Article/2017/11/20/Young-s-could-spend-100m-on-group-deal
Aqualung
21-11-2017, 09:58
"100+ million anytime"
https://www.morningadvertiser.co.uk/Article/2017/11/20/Young-s-could-spend-100m-on-group-deal
I'm not surprised they have 100 million in their back pocket with the prices they charge.
" owns more pubs in the West Midlands than any other"
https://www.msn.com/en-gb/news/newsbirmingham/this-is-who-owns-the-most-pubs-in-birmingham-and-the-west-midlands/ar-BBFCsJB
"owns more pubs in Nottinghamshire than any other"
http://www.nottinghampost.com/whats-on/food-drink/who-owns-most-pubs-nottinghamshire-832896
Mobyduck
27-11-2017, 17:21
" owns more pubs in the West Midlands than any other"
https://www.msn.com/en-gb/news/newsbirmingham/this-is-who-owns-the-most-pubs-in-birmingham-and-the-west-midlands/ar-BBFCsJB
"owns more pubs in Nottinghamshire than any other"
http://www.nottinghampost.com/whats-on/food-drink/who-owns-most-pubs-nottinghamshire-832896
" Well known brewer's such as J.D. Wetherspoon's"! Whoever wrote this is obviously clueless.
Aqualung
27-11-2017, 17:48
" Well known brewer's such as J.D. Wetherspoon's"! Whoever wrote this is obviously clueless.
And they called Mitchell and Butler a brewer! I guessed Marston for the West Midlands due to Banks's and Heineken UK for Notts where S&N took over Home and Greenalls took over Shipstones.
oldboots
27-11-2017, 18:26
And they called Mitchell and Butler a brewer!
" Well known brewer's such as J.D. Wetherspoon's"! Whoever wrote this is obviously clueless.
The general public and dozy, lazy journalists believe nothing has changed in pubs and brewing for years, they think it's lots of nice little family brewers owning a few local tied houses with an old school landlord and lady running the pub. They've never heard of the likes of Punch, EI, Admiral, GK etc, let alone what kind of shenanigans they get up to. They may think Newton & Ridley is a real brewery.
It is encouraged by certain companies who have umpteen brands of pubs and beers and of course don't put the actual brewery of origin on the pump clip etc or the true owner of a pub on the signage.
:moremad:
trainman
27-11-2017, 19:33
They may think Newton & Ridley is a real brewery.
:
Eh? What's your point? Don't diss the N+R..!!
oldboots
27-11-2017, 19:50
Eh? What's your point? Don't diss the N+R..!!
I'm sure all the breweries in Greater Grotley are quite wonderful ;)
The general public and dozy, lazy journalists believe nothing has changed in pubs and brewing for years, they think it's lots of nice little family brewers owning a few local tied houses with an old school landlord and lady running the pub. They've never heard of the likes of Punch, EI, Admiral, GK etc, let alone what kind of shenanigans they get up to.
Even this shoddy tosh isn't quite as blatant as Young & Co's Brewery PLC...
NickDavies
27-11-2017, 20:57
Yeah you get it all the time on local facebook groups and so on. Whenever another one closes down those who only ever went in the place on Mother's Day and complained all the time about the noise at closing time are the first to blame 'The Brewery' for their much loved but clearly underused local's demise.
"has completed its €40 million minority investment in "
https://www.irishtimes.com/business/retail-and-services/c-c-completes-40m-investment-in-uk-pub-chain-1.3318724
" pub arm, are thought to be interested in the chain"
http://www.business-sale.com/news/article/hawthorn-leisure-pub-chain-up-for-sale-38813.html
https://www.morningadvertiser.co.uk/Article/2018/05/03/Patron-completes-acquisition-of-Laine-Pub-Co
Bucking Fastard
03-05-2018, 16:44
https://www.morningadvertiser.co.uk/Article/2018/05/03/Patron-completes-acquisition-of-Laine-Pub-Co
Given Laine own 33 pubs in Brighton,the PuG crawl must have visited quite a few.
https://www.morningadvertiser.co.uk/Article/2018/05/08/Big-Interview-Star-Pubs-Bars-Lawson-Mountstevens
https://www.morningadvertiser.co.uk/Article/2018/05/24/NewRiver-acquires-Hawthorn-Leisure-for-106.8m
Bucking Fastard
28-05-2018, 11:47
https://www.morningadvertiser.co.uk/Article/2018/05/24/NewRiver-acquires-Hawthorn-Leisure-for-106.8m
Thanks for that.This combination puts Hawthorn/New River in the top 10 pubcos,so i have changed post #5 and post #26 to show the new positions.As always this is a best guess ,so any other help gratefully received.
Stonegate https://www.morningadvertiser.co.uk/Article/2018/07/23/Stonegate-acquires-Be-At-One-and-15-Novus-Leisure-sites
Bucking Fastard
23-07-2018, 13:38
Stonegate https://www.morningadvertiser.co.uk/Article/2018/07/23/Stonegate-acquires-Be-At-One-and-15-Novus-Leisure-sites
Thanks hondo,I've updated post #5
https://www.morningadvertiser.co.uk/Article/2018/10/10/Marston-s-acquires-15-former-M-B-pubs-from-Aprirose
Aqualung
10-10-2018, 13:23
https://www.morningadvertiser.co.uk/Article/2018/10/10/Marston-s-acquires-15-former-M-B-pubs-from-Aprirose
Rubbish going to rubbish.
Brainypool
10-10-2018, 18:06
Rubbish going to rubbish.
apparently Marstons' wet led franchised pubs 'achieved good growth'. yet every last one of their local pubs around here has been run into the ground or sold off for development to the likes of New River
Aqualung
10-10-2018, 20:03
apparently Marstons' wet led franchised pubs 'achieved good growth'. yet every last one of their local pubs around here has been run into the ground or sold off for development to the likes of New River
That's my experience with Marstons as well. The Banks's pubs around Aberystwyth have mostly been sold off. Burtonwood pubs in North Wales were generally reliable for real ale but are now either closed or sell any old Martson rubbish or just keg. I've completely lost faith with them. At least a few Greene King houses have made themselves partial free houses.
Aqualung
05-11-2018, 18:36
Someone told me at the weekend that Nicholsons are merging with Brunning & Price. Has anyone else heard this?
Someone told me at the weekend that Nicholsons are merging with Brunning & Price. Has anyone else heard this?
Nicholson's is part of Mitchells & Butlers, and Brunning & Price is part of The Restaurant Group (which has just announced a big deal buying Wagamama), so it sounds like crossed wires to me.
Aqualung
05-11-2018, 19:55
Nicholson's is part of Mitchells & Butlers, and Brunning & Price is part of The Restaurant Group (which has just announced a big deal buying Wagamama), so it sounds like crossed wires to me.
Thanks, we were discussing the merits of Harkers in Chester (very little merit IMO).
Brainypool
05-12-2018, 15:48
From 'London Drinker' (August/September 2017):
"M&B have sold 73 pubs - 65 freeholds and eight leaseholds - to a property investment group called Aprirose for £40 million. According to a report in the Times, these will form a new chain called Milton Pubs and Taverns along with 35 sites they already own. This makes Aprirose, who I admit I had never heard of, the 11th largest pub group in the country."
However, the "11th largest pub group in the country" claim must be way out.
The story of Aprirose becomes a little clearer. In a development that will surprise no one, it appears that a large number of these 'Milton Pubs and Taverns' have been closed and boarded this week. 22 are currently advertised for sale on Fleurets. If your local is on here expect it bulldozed pretty soon.
https://www.fleurets.com/multisale.html?type=aprirose
A common theme with the closed pubs is that they were run into the ground under the management of Milton judging by reviews on Google. Makes you wonder.
Thanks, we were discussing the merits of Harkers in Chester (very little merit IMO).
I've been to Old Harkers a couple of times when visiting Chester for the races. It's always struck me as a well run place and has some decent beers. Gets very busy on race days of course. Just across the road you have a bar called The Cellar which is good for anyone seeking interesting, if expensive, beers.
Aqualung
07-12-2018, 17:40
I've been to Old Harkers a couple of times when visiting Chester for the races. It's always struck me as a well run place and has some decent beers. Gets very busy on race days of course. Just across the road you have a bar called The Cellar which is good for anyone seeking interesting, if expensive, beers.
There's no accounting for taste as my friend likes Harkers. I think he said that the Cellar over the road had closed but I can see no sign of it. He's the one that also told me that Brunning and Price are merging with Nicholsons!
ROBCamra
08-12-2018, 07:13
There's no accounting for taste as my friend likes Harkers. I think he said that the Cellar over the road had closed but I can see no sign of it. He's the one that also told me that Brunning and Price are merging with Nicholsons!
The Cellar tweeted yesterday, so it's not closed.
"complement the Young's managed house estate both in and around London, build upon a growing presence in the South West "
https://www.morningadvertiser.co.uk/Article/2019/01/23/Young-s-acquires-Redcomb-Pubs-for-34m
Aqualung
23-01-2019, 10:25
"complement the Young's managed house estate both in and around London, build upon a growing presence in the South West "
https://www.morningadvertiser.co.uk/Article/2019/01/23/Young-s-acquires-Redcomb-Pubs-for-34m
Another 15 on my AVOID list!
Bucking Fastard
23-01-2019, 10:42
"complement the Young's managed house estate both in and around London, build upon a growing presence in the South West "
https://www.morningadvertiser.co.uk/Article/2019/01/23/Young-s-acquires-Redcomb-Pubs-for-34m
Thanks hondo,I have updated the Second Division on post #26
https://www.morningadvertiser.co.uk/Article/2019/01/23/Stonegate-acquires-Fever-Bars-and-more-sites-from-Novus-Leisure
NickDavies
25-01-2019, 08:35
Fullers sell brewing side to Asahi
https://www.bbc.co.uk/news/business-46999208
A possible silver lining for CMIC members - Fullers is about 15% of total holdings - as it's been a very poor year so far.
Pangolin
25-01-2019, 09:51
Fullers official statement here http://https://www.fullers.co.uk/blog/brewery-articles/proposed-sale-of-fullers-beer-business-to-asahi
Can't see it being good news for anyone except shareholders. It certainly spells doom for the remaining estate of West London locals that don't fall into the "prestige" category. Will be interesting to what Asahi do with Dark Star.
Pangolin
25-01-2019, 10:03
Incidentally, with around 380 pubs, that will put Fullers well up the list of pubcos, once it is completed.
NickDavies
25-01-2019, 10:16
Will be interesting to what Asahi do with Dark Star.
Well they'll almost certainly try to position Pride as a global brand, like Peroni. They could try that with the likes of Dark Star, but my guess is it will be quietly dropped a few years down the line.
They will, of course, replace all the senior management at Chiswick with people who'll be directed by Tokyo to do their bidding. All the reassurances count for nothing. A fiver in Wetherspoon's vouchers says it will be housing by 2025.
I can see a keg version of London Pride being all over the place within a few years
Bucking Fastard
25-01-2019, 11:22
Looks like Asahi paid top dollar,23.6x profits seems to me a very full price ,compared to Marston's purchase of the Charles Wells brewing assets and brands,although I accept that the CW brands had been diminished.I suppose Fullers will now expand their estate with around £125M burning a hole in their pocket.
Maybe turning Chiswick into upmarket flats is all part of Asahi's plan as Nick suggests.
NickDavies
25-01-2019, 11:52
Maybe turning Chiswick into upmarket flats is all part of Asahi's plan as Nick suggests.
It does get them a brewery in the UK which they don't currently have. As far as I know Grolsh and Peroni etc are brewed under licence by Coors, a hangover from when the same parent owned those breweries in their original countries. But I doubt Chiswick has the capacity to produce them without ditching many of the existing lines. Selling a prime site in West London - and it is very prime indeed - would build a very big beer factory on a green field site somewhere else and more besides.
Pangolin
25-01-2019, 12:13
They will now own London's two largest breweries...
NickDavies
25-01-2019, 12:18
They will now own London's two largest breweries...
Yes I'd forgotten about Meantime. Don't see that lasting long now.
Aqualung
25-01-2019, 14:12
Fullers sell brewing side to Asahi
https://www.bbc.co.uk/news/business-46999208
A possible silver lining for CMIC members - Fullers is about 15% of total holdings - as it's been a very poor year so far.
Mmmmm, yummy! ESB & raw fish. I hope this means that London Pride will be removed from certain East London JDWs.
london calling
25-01-2019, 19:58
I can see a keg version of London Pride being all over the place within a few years
There already is a keg version but it is only in competition with John Smiths smooth.
london calling
25-01-2019, 20:08
Mmmmm, yummy! ESB & raw fish. I hope this means that London Pride will be removed from certain East London JDWs.
Probably the opposite.They will brew massive quantities at Meantime without compromising the Brewed in London part of it and be able to price it to suit Wetherspoon.
This now makes Zerodegrees the largest independent brewer in London and Twickenham second.
NickDavies
25-01-2019, 20:19
There already is a keg version but it is only in competition with John Smiths smooth.
What's envisaged is likely to be a keg and bottled version produced somewhere in China and sold in fancy hotels in the far east as Authentic English Craft Beer. And similarly in other parts of the world. Remember we are kidded into thinking that the likes of Staropromen and Pilsner Urquell are genuine Czech beer of ancient tradition, not a soup of British chemicals. It works both ways.
london calling
25-01-2019, 20:49
What's envisaged is likely to be a keg and bottled version produced somewhere in China and sold in fancy hotels in the far east as Authentic English Craft Beer. And similarly in other parts of the world. Remember we are kidded into thinking that the likes of Staropromen and Pilsner Urquell are genuine Czech beer of ancient tradition, not a soup of British chemicals. It works both ways.
The far east is def a big market.Fullers are traditionally a British brewer but they export 70% of their beer and are a well known brand abroad. As much as Fullers have tried to join the Craft revolution with collaborations and a new pilot plant for small batch beers they have dismally failed to impress me this year.
https://www.morningadvertiser.co.uk/Article/2019/04/01/Aprirose-acquires-British-Land-pub-portfolio-for-c-130m
Bucking Fastard
01-04-2019, 14:12
https://www.morningadvertiser.co.uk/Article/2019/04/01/Aprirose-acquires-British-Land-pub-portfolio-for-c-130m
Thanks hondo.I will keep an eye out for Aprirose,but with just under 200 pubs they are below (my somewhat arbitrary 200 ) limit for inclusion in the Second Division on post #26
https://www.morningadvertiser.co.uk/Article/2019/04/01/Aprirose-acquires-British-Land-pub-portfolio-for-c-130m
So that's four owners for this 'lucky' 45 in four years: Spirit > Greene King > British Land > Apirose?
https://www.hospitalityandcateringnews.com/2019/07/stonegate-announce-3-billion-acquisition-ei-group/
Bucking Fastard
18-07-2019, 10:00
https://www.hospitalityandcateringnews.com/2019/07/stonegate-announce-3-billion-acquisition-ei-group/
Thanks for the heads up.I won't change post#5 until shareholder approval is gained but it looks a done deal.The pubco majors will then shrink from 10 to 9,and we should get an accurate pub count figure for the Ei/Stonegate combination once the deal closes.
oldboots
18-07-2019, 10:53
https://www.hospitalityandcateringnews.com/2019/07/stonegate-announce-3-billion-acquisition-ei-group/
£3 billion or £1.27 billion depending on where you read it
Bucking Fastard
18-07-2019, 10:56
£3 billion or £1.27 billion depending on where you read it
The difference is the amount of net debt Ei has on it's balance sheet,which will be assumed by the enlarged group..
oldboots
18-07-2019, 13:08
The difference is the amount of net debt Ei has on it's balance sheet,which will be assumed by the enlarged group..
Ah, case solved, many thanks.
Aqualung
18-07-2019, 14:54
£3 billion or £1.27 billion depending on where you read it
Either way it's a complete waste of money.
oldboots
18-07-2019, 15:41
Either way it's a complete waste of money.
Depends if Stonegate will rape their tenents and customers as much as EI. With a debt mountain that big I suspect they will. The exchange of one blood sucker for another, EI shareholders lose a debt Stonegate gain one, bankers and lawyers win again. Come the revolution brothers .....err not a lot.
Depends if Stonegate will rape their tenents and customers as much as EI. With a debt mountain that big I suspect they will. The exchange of one blood sucker for another, EI shareholders lose a debt Stonegate gain one, bankers and lawyers win again. Come the revolution brothers .....err not a lot.
Unless there is some sort of damascene conversion, Stonegate aren't known for operating small suburban boozers. But could it be much worse than now anyway?
Oh yes it can, cheerio tenants, hello managed.
It seems to me the second division of pub ownership groups have less than 500 pubs,probably due to 2016 legislation for groups larger than this.Thanks for contributions from Dave M and Aqualung.
Trust Inns -- 500
Fullers -- 380
Shepherd Neame -- 350
Robinsons --280
Thwaites -- 275
Brains -- 270
Youngs -- 270
Wadworth --240
Charles Wells -- 200
Sam Smiths -- 200
Again apologies if I have missed some obvious names.
https://www.morningadvertiser.co.uk/Article/2019/08/19/Wadworth-sells-18-pubs-to-Red-Oak-Taverns
https://www.morningadvertiser.co.uk/Article/2019/09/25/Admiral-Taverns-acquires-150-community-pubs-from-Star-Pubs-Bars
Bucking Fastard
25-09-2019, 11:20
That's interesting.
Seems to me there is a Big Ten in the Pubco world after some recent transactions,figures from a quick trawl around wiki.
1. Ei Group (formerly Enterprise ) -- 5000 .Takeover by Stonegate not yet closed.
2. Greene King -- 2700
3 Heineken ( Star ) -- 2350
4. Mitchell & Butler -- 1800
5.Marstons -- 1700
6 Patron (ex Punch) -- 1300
7. Admiral -- 950
8. Wetherspoons -- 900
9. Stonegate -- 772
10.Hawthorn/New River -- 700
I make that a total of 18,200 pubs,37% of the market.
Is anyone aware of something I've missed ,or gross inaccuracy in these figures ?
Thanks hondo for the latest update on Admiral and Star.I have updated the figures in the table.
2nd division
https://www.morningadvertiser.co.uk/Article/2019/10/23/Fuller-s-Cotswold-Inns-Hotels-acquisition
2nd division
https://www.morningadvertiser.co.uk/Article/2019/10/23/Fuller-s-Cotswold-Inns-Hotels-acquisition
As these things go, this appears like quite a good deal - seven upmarket hotels / inns in well-heeled tourist locations for £40m, and it looks like the beer offer should improve too, going by those that have been reviewed on this site. However, the feature also mentions two leasehold bars in central Birmingham, but I can't find out what these are.
NickDavies
25-10-2019, 16:38
two leasehold bars in central Birmingham, but I can't find out what these are.
Companies House is your friend
https://beta.companieshouse.gov.uk/company/03309179/filing-history
https://beta.companieshouse.gov.uk/company/03309179/filing-history/MzIzMDkzOTg4NWFkaXF6a2N4/document?format=pdf&download=0
Utopia Bar (https://www.pubsgalore.co.uk/pubs/56409/)
Churchills Bar (https://www.pubsgalore.co.uk/pubs/67789/)
I suspect Fuller's might not be so keen on these and will unload them in due course.
Companies House is your friend
https://beta.companieshouse.gov.uk/company/03309179/filing-history
https://beta.companieshouse.gov.uk/company/03309179/filing-history/MzIzMDkzOTg4NWFkaXF6a2N4/document?format=pdf&download=0
Utopia Bar (https://www.pubsgalore.co.uk/pubs/56409/)
Churchills Bar (https://www.pubsgalore.co.uk/pubs/67789/)
I suspect Fuller's might not be so keen on these and will unload them in due course.
Thanks for looking those up!
https://www.morningadvertiser.co.uk/Article/2019/11/04/Marston-s-sells-137-pubs-for-45m
https://www.morningadvertiser.co.uk/Article/2019/11/06/Property-round-up-Admiral-passes-1-000-pub-mark-plus-new-ETM-site-at-1bn-London-Bridge-development
the pubs
https://www.stokesentinel.co.uk/news/stoke-on-trent-news/list-leaked-pubs-admiral-marstons-3506470?_ga=2.195336620.1474481354.1573126719-443104379.1544623167
https://www.morningadvertiser.co.uk/Article/2019/11/13/How-many-more-sites-will-Admiral-Taverns-acquire
https://www.morningadvertiser.co.uk/Article/2020/01/23/Punch-acquires-southern-pubs-Heartstone-Inns
http://www.heartstoneinns.co.uk/
https://www.morningadvertiser.co.uk/Article/2020/01/27/Hawthorn-Leisure-acquires-29-pub-package-from-Marston-s
Bucking Fastard
27-01-2020, 11:40
https://www.morningadvertiser.co.uk/Article/2020/01/27/Hawthorn-Leisure-acquires-29-pub-package-from-Marston-s
Thanks hondo ,I have updated the Hawthorn total.Marston's do seem to be regularly flogging off packages of pubs,so their total number may now be a bit lower than shown.
Pubsignman
27-01-2020, 15:44
Marston's do seem to be regularly flogging off packages of pubs,so their total number may now be a bit lower than shown.
The Marston's website says their estate is now down to around 1,400 pubs.
https://www.marstons.co.uk/pubs/
Bucking Fastard
27-01-2020, 15:49
The Marston's website says their estate is now down to around 1,400 pubs.
https://www.marstons.co.uk/pubs/
Thanks,table on post #5 updated.
"The Competition and Markets Authority said it will "
https://www.standard.co.uk/business/stonegate-tieup-with-pubs-giant-ei-gets-green-light-from-competition-watchdog-a4362151.html
SA Brain
https://www.morningadvertiser.co.uk/Article/2020/03/02/SA-Brain-selling-40-pubs
"have announced the sale of some of Dorset and Hampshire's best-known pubs"
https://www.yorkpress.co.uk/news/18859810.brewery-sells-five-popular-dorset-ringwood-pubs-including-goat-tricycle/
oldboots
10-11-2020, 17:49
"have announced the sale of some of Dorset and Hampshire's best-known pubs"
https://www.yorkpress.co.uk/news/18859810.brewery-sells-five-popular-dorset-ringwood-pubs-including-goat-tricycle/
According to old mudgie the tranche includes the George at Norton St Phillip (https://www.pubsgalore.co.uk/pubs/63/) one of the country's best known ancient pubs.
I've got it on a set of place mats we got as a wedding present.
london calling
10-11-2020, 20:00
That's a lot less beer they will have to brew.Although I am not a fan of it.Tough times for the regionals.
According to old mudgie the tranche includes the George at Norton St Phillip (https://www.pubsgalore.co.uk/pubs/63/) one of the country's best known ancient pubs.
From the website: 'We can confirm that our current owner (Wadworth) has exchanged contracts for the sale of this pub to Liberation Group (owners of Butcombe Brewing Co).'
What a beautiful pub and so nice to see a half-timbered building in its natural state, without the wooden beams having been ruined beneath black paint.
Mobyduck
30-11-2020, 20:59
https://realassets.ipe.com/patron-capital-and-heineken-buy-18bn-punch-taverns/10020364.article
NickDavies
30-11-2020, 21:14
https://realassets.ipe.com/patron-capital-and-heineken-buy-18bn-punch-taverns/10020364.article
That article is over three years old?
Mobyduck
30-11-2020, 21:18
That article is over three years old?
Oops.
sheffield hatter
30-11-2020, 21:21
Oops.
Have you been drinking, by any chance?
Mobyduck
01-12-2020, 05:49
Have you been drinking, by any chance?
As it happened.........
Brainypool
09-12-2020, 06:33
Sir John Fitzgerald pub group acquired in multimillion-pound deal (https://www.business-live.co.uk/commercial-property/sir-john-fitzgerald-pub-group-19411860?utm_source=twitter.com&utm_medium=social&utm_campaign=sharebar)
Enjoyed a number of their pubs when I visited Newcastle early this year.
Pangolin
13-12-2020, 17:31
Sir John Fitzgerald pub group acquired in multimillion-pound deal (https://www.business-live.co.uk/commercial-property/sir-john-fitzgerald-pub-group-19411860?utm_source=twitter.com&utm_medium=social&utm_campaign=sharebar)
Enjoyed a number of their pubs when I visited Newcastle early this year.
A pity - SJF were a pretty reliable owner of historic pubs and I doubt the new people will resist the temptation to modernise.
" to invite offers for an investment or sale to a trade buyer."
https://www.bighospitality.co.uk/Article/2020/12/14/Welsh-brewer-SA-Brain-up-for-sale
london calling
14-12-2020, 21:42
Its a no brainer for Wales.
"will take over the running of around 150 pubs in Wales from Brains, saving up to 1,300 jobs"
https://www.walesonline.co.uk/news/wales-news/brains-pubs-marstons-takeover-beer-19509901
sheffield hatter
23-12-2020, 10:56
"will take over the running of around 150 pubs in Wales from Brains, saving up to 1,300 jobs"
https://www.walesonline.co.uk/news/wales-news/brains-pubs-marstons-takeover-beer-19509901
https://www.theguardian.com/business/2020/dec/23/welsh-brewer-brains-pubs-marstons-jobs-covid
"Family-owned Welsh brewer SA Brain & Co has handed over the running of its 156 pubs to Marston’s, saving 1,300 jobs, after the coronavirus pandemic threatened their closure.
"Before the pandemic, the pubs included in the deal made £14m a year in core earnings. Marston’s will take over the pubs in February, mostly under 25-year leases from Brains. The annual rent on the pubs was £5.5m. The pubs will be run under the Brains brand, and will continue to sell its beer."
https://www.walesonline.co.uk/news/wales-news/brains-beer-not-made-wales-19569962
https://www.bbc.com/news/uk-wales-55558814
https://www.walesonline.co.uk/news/wales-news/brains-beer-not-made-wales-19569962
https://www.bbc.com/news/uk-wales-55558814
"Prof Deacon said a change towards "funky localised brands" and "lager over beer" hasn't helped Brains but the firm has "lots of opportunity" if it is forced to leave Cardiff.
"They need to ensure the story they're telling about Brains brewey is one of heritage and maybe not necessarily anchored to a Cardiff-centric brand. You could brew elsewhere with the heart of Wales in the bottle."
What a lot of crap.
https://www.hospitalityandcateringnews.com/2021/02/red-oak-taverns-acquires-ten-pubs-from-wells-co-and-now-looking-for-similar-acquisition-opportunities/
https://www.morningadvertiser.co.uk/Article/2021/03/09/Has-Seafood-Pub-Company-been-bought?utm_source=newsletter_daily&utm_medium=email&utm_campaign=09-Mar-2021
https://www.morningadvertiser.co.uk/Article/2021/03/31/Has-Stonegate-sold-42-pubs-to-RedCat?utm_source=newsletter_daily&utm_medium=email&utm_campaign=31-Mar-2021
https://www.morningadvertiser.co.uk/Article/2021/04/27/Has-Everards-sold-pubs-to-Hawthorn
There's never a bloody list of these pubs in the MA, maddening.
Young's https://www.bighospitality.co.uk/Article/2021/05/20/Young-s-mulls-sale-of-tenanted-pub-estate-preliminary-results-coronavirus-lockdown
Bucking Fastard
27-07-2021, 20:08
.
After the Stonegate takeover of EI and the purchase of Hawthorn/New River by Admiral there now appears to be a Big Eight in the Pubco world. from a quick trawl around wiki.
1. Stonegate -- 4500
2. Greene King(CK Assets)-- 2700
3 Heineken ( Star ) -- 2350
4. Mitchell & Butler -- 1800
5. Admiral -- 1600
6.Marstons -- 1,400
7 Patron (ex Punch) -- 1300
8. Wetherspoons -- 900
I make that a total of 16,550 pubs,34% of the market which hasnt really changed for a while.
Is anyone aware of something I've missed ,or gross inaccuracy in these figures ?
Hope this helps
Hope this helps
Seems that bigger isn't better. If I had to nominate a Pubco I actually liked, it would be the tiddler that is Remarkable Pubs (http://remarkablepubs.co.uk/), who do a great job of bringing out original features in their portfolio, having just restored the magnificent Boleyn Tavern (https://pubheritage.camra.org.uk/pubs/290) which is high up on my must-visit list.
Bucking Fastard
28-07-2021, 18:47
Seems that bigger isn't better. If I had to nominate a Pubco I actually liked, it would be the tiddler that is Remarkable Pubs (http://remarkablepubs.co.uk/), who do a great job of bringing out original features in their portfolio, having just restored the magnificent Boleyn Tavern (https://pubheritage.camra.org.uk/pubs/290) which is high up on my must-visit list.
Thats a great restoration and should be a shrine for any supporters of West Ham United given their original Boleyn ground was just up the road.That was a proper old school ground too.
Mobyduck
28-07-2021, 18:47
Seems that bigger isn't better. If I had to nominate a Pubco I actually liked, it would be the tiddler that is Remarkable Pubs (http://remarkablepubs.co.uk/), who do a great job of bringing out original features in their portfolio, having just restored the magnificent Boleyn Tavern (https://pubheritage.camra.org.uk/pubs/290) which is high up on my must-visit list.
Done four on their of pubs and they're all at least half decent.
Komakino
29-07-2021, 09:10
9/15 for me. Not been to the Boleyn since we moved to Stratford, so like BF, a re-visit well overdue. The remainder have been added to the (admittedly rather long) 'to-do' list.
Done four on their of pubs and they're all at least half decent.
Done 12. Recently visited The Lord Tredegar (https://www.pubsgalore.co.uk/pubs/24990/) and The Salisbury Hotel (https://www.pubsgalore.co.uk/pubs/25450/) and was very impressed with both, so am looking forward to getting my arse in gear and doing the Boleyn.
Thats a great restoration and should be a shrine for any supporters of West Ham United given their original Boleyn ground was just up the road.That was a proper old school ground too.
9/15 for me. Not been to the Boleyn since we moved to Stratford, so like BF, a re-visit well overdue. The remainder have been added to the (admittedly rather long) 'to-do' list.
The Boleyn has recently reopened after a £1.5m refit (https://boleyntavern.co.uk/about-us/). It was described as being fantastic before and the pub's old website had a gallery of the restoration work being undertaken, so it promises to be spectacular now.
"Punch Pubs business sold to"
https://www.standard.co.uk/business/punch-pubs-business-sold-to-investment-giant-fortress-b972080.html
Bucking Fastard
15-12-2021, 13:28
"Punch Pubs business sold to"
https://www.standard.co.uk/business/punch-pubs-business-sold-to-investment-giant-fortress-b972080.html
Thanks,I've update post #5 to reflect the change of ownership.The transaction values a Punch (largely) wet led freehold pub at around £770k,although this is just an average.
Pangolin
15-12-2021, 14:24
Thanks,I've update post #5 to reflect the change of ownership.
I doubt very much the name will change to Fortress, any more than it was called Patron when they were the owners. They may well rebrand at some point, but for the moment at least it can be expected to remain trading as Punch.
Bucking Fastard
16-12-2021, 10:36
I doubt very much the name will change to Fortress, any more than it was called Patron when they were the owners. They may well rebrand at some point, but for the moment at least it can be expected to remain trading as Punch.
Point taken,I've reinstated the Punch trading name.
Bucking Fastard
06-05-2024, 10:15
That's interesting.
Seems to me there is a Big Eight in the Pubco world after some recent transactions,figures from a quick trawl around wiki.
1. Stonegate -- 4500
2. Greene King -- 2700
3 Heineken ( Star ) -- 2400
4. Mitchell & Butler -- 1800
5. Admiral -- 1600
6.Marstons -- 1400
7 Punch (Fortress) -- 1300
8. Wetherspoons -- 900
I make that a total of 16,600 pubs,34% of the market.
Is anyone aware of something I've missed ,or gross inaccuracy in these figures ?
Thought I would bump this thread,updated from the recent Heineken press release but just wondered if anyone can spot any howlers as it's been quite a while since this was an active topic.
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