Marston’s has announced the sale of its remaining non-core brewing assets to create a business entirely focused on pubs.
It will sell the whole of its 40% interest in Carlsberg Marston’s Limited (CMBC), which was created in 2020, for £206 million in cash.
Marston’s will continue its strong partnership with CMBC through the long-term brand distribution agreement, which remains in place.
“Today’s announcement represents a significant milestone for Marston’s as we realise our stake in
CMBC,” said Marston’s chief executive, Justin Platt.
“In my first six months with the business, it has become very clear to me that our core capability and key opportunity to unlock value for shareholders is in driving a focused and successful pub business.
“This deal further strengthens our balance sheet, significantly reducing our debt by over £200m. In addition, CMBC remain valued strategic partners and we continue to benefit from our ongoing longterm brand distribution agreement with them.
“Crucially, it allows us to become a pure play hospitality business and focus on what we do best, namely giving our guests amazing pub experiences. I look forward to delivering on the opportunities a focused pub business will provide to ensure we maximise value for our shareholders.”
