Business
Acquisition
Acquisition.
About this update from Marston's Plc
[{"type":"text","content":"\n \nRNS Number : 4793F Marston's PLC 18 May 2017 \n\n \nNOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO AUSTRALIA, CANADA, JAPAN OR SOUTH AFRICA OR ANY OTHER STATE OR JURISDICTION IN WHICH SUCH RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL\nTHIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION\n 18 May 2017\n MARSTON'S PLC\nAcquisition of Charles Wells Brewing and Beer Business for £55 million\nMarston's PLC (\"Marston's\" or \"the Group\") today announces that it has agreed to acquire the Charles Wells brewing business from the Charles Wells Group for a cash consideration of £55 million, plus working capital adjustments. \nBased in Bedford, Charles Wells Brewing and Beer Business is an established high quality brewing business with a portfolio of more than 30 beers including leading brands such as Bombardier, Young's and McEwan's. In addition, the business has UK distribution rights for the Estrella Damm lager brand and other beers under license including Kirin and Erdinger. As part of this acquisition, we have entered into a long-term exclusive agreement to supply all beer, wine, spirits and minerals to the Charles Wells pub estate. The brewery site, which is freehold, employs around 300 people.\nThe Charles Wells Brewing and Beer Business acquisition complements the existing Marston's Beer Company strategy:\n· Extends our number 1 position in the premium bottled ale and cask ale markets, and enhances our share of the premium canned market.\n· Strengthens our presence in London and the South East and presents a platform to expand into Scotland.\n· Develops our licensed brands business.\n· Expands our production capabilities to include lager brewing and canning, whilst improving production and distribution efficiency.\nFurt...