Mitchells & Butlers will soon enter the Informal Eating-Out market

Posted: August 29th, 2010

Mitchells & Butlers will soon enter the ‘informal eating-out’ market in UK. They will be soon selling a portfolio of 333 pubs to Stonegate Pub Company for £373m. Stonegate Pub Company is a Private Equity firm managed by TDR Capital from London.

The sale of the pubs and other non-core business will be completed by mid- November and the company believes that the sale would fetch about £500m.

By selling these pubs, Mitchells & Butlers can officially exit the lower price drinks-led” and “late night venue” markets and surge forward towards the informal eating-out market.

Commenting about this venture, Adam Fowle, Chief Executive, Mitchells & Butlers, said: “We are pleased that we have been able to announce the exit from our price sensitive drinks-led pubs and our late night venues in a single transaction.

“This will now enable us to reinvest in the informal eating-out market where our market leading brands, corporate scale and operational capability will deliver attractive growth and investment returns for our shareholders.”

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This entry was posted on Sunday, August 29th, 2010 at 5:57 pm and is filed under Bridging Finance . You can follow any responses to this entry through the RSS 2.0 feed. Responses are currently closed, but you can trackback from your own site.

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