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Marston’s receives takeover approach from private equity firm


Marston’s PLC (LON:MARS), the pub owner, shot up 16% as it said it had been approached about a cash takeover from Platinum Equity Advisors.

No price was mentioned and Marston’s said its board will evaluate the proposal and make a further announcement.

Marston’s, which has been in operation for more than 180 years, itself has an estate of 1,368 pubs comprising leasehold, managed and franchised outlets.

The Burton-on-Trent group has been a consolidator of pub groups recently and last year spun out its brewing arm, famous for brands such as Pedigree, Banks’s Bitter, Hobgoblin, Brakspear, Shipyard and Bombardier into a joint venture with Danish giant Carlsberg.

Last month, it agreed a deal to run 156 pubs in Wales owned by the Brains company.

Pub groups have been grappling with the effective shut-down of the industry during the three UK Covid-19lockdowns so far, but have an appeal to foreign buyers.

EI was acquired by private equity firm TDR in 2019 and Hong Kong billionaire Victor Li bought Greene King for GBP2.7bn in the same year.

Shares in Marston’s rose 12p to 86.9p, valuing the group at around GBP550mln.

Dr Martens says IPO was eight times oversubscribed

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