Sale of 137 Marston's pubs
4 November 2019
Christie Group plc
("Christie Group" or the "Company")
Christie & Co exchanges on the sale of 137 Marston's pubs
Christie Group plc (CTG.L), the leading provider of Professional & Financial Services and Stock & Inventory Systems & Services to the hospitality, leisure, healthcare, medical, childcare & education and retail sectors, is pleased to announce that Christie & Co, its specialist provider of agency and advisory services, has confirmed the sale of 137 Marston's pubs to Admiral Taverns for £44.9million.
The portfolio includes a mix of pubs from across Marston's tenanted and franchised divisions, comprising mainly smaller wet-led pubs.
Chris Day, Global Managing Director at Christie & Co comments, "We advised Marston's that the optimal route to value was best realised through marketing the portfolio as a single package. The current lack of opportunity to acquire material portfolios as a group, combined with strong buyer appetite across a range of buyer pools, from family-run pub companies to private equity and international investors resulted in strong interest in the Marston's portfolio. We're delighted that Admiral Taverns were the successful bidder and look forward to seeing them execute their strategy to grow value."
Christie Group plc
Christie & Co Global Managing Director 020 7227 0777
Chief Operating Officer 020 7227 0700
Nominated Advisor and Broker 020 7408 4090
Notes to Editors:
Christie Group plc, quoted on AIM, is a leading professional business services group with 43 offices across the UK, Europe and Canada, catering to its specialist markets in the hospitality, leisure, healthcare, medical, childcare & education and retail sectors.
Christie Group operates in two complementary business divisions: Professional & Financial Services (PFS) and Stock & Inventory Systems & Services (SISS). These divisions trade under the brand names: PFS - Christie & Co, Pinders, Christie Finance and Christie Insurance: SISS - Orridge, Venners and Vennersys.
Tracing its origins back to 1846, the Group has a long-established reputation for offering essential services to client companies in agency, valuation services, investment, consultancy, project management, multi-functional trading systems and online ticketing services, stock audit and inventory management. The diversity of these services provides a natural balance to the Group's core agency business.
For more information, please go to www.christiegroup.com.
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