Hungry Wolves
At the beginning of December, Wolverhampton and Dudley Breweries revealed plans to buy the Burtonwood pub estate for GBP119.9 million (EUR 172 million). According to Martin Information, London, Burtonwood’s and Wolves’ estates represented a good geographic fit, taking Wolves’ total number of properties to over 2,000. This is Wolves’ second major takeover deal since it completed a GBP150 million refinancing in March to give it a war
chest for buying pubs. In June Wolves paid GBP89.9 million (EUR130 million) to buy the 63-strong estate of Wizard Inns from Japan’s Nomura Bank.
The announcement of the Burtonwood acquisition came as Wolves reported a 6.3 percent increase in full-year pre-tax profits to GBP77.7 million, at the mid-range of forecasts. Turnover was up 4..
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