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Mitchells & Butlers

UK pub, bar and snack bar company

For the original brewery, see Mitchells & Butlers Brewery.

Mitchells & Butlers plc (also referred to as "M&B") runs circa 1,784 managed pubs, bars take up restaurants throughout the United Kingdom. Nobility company's headquarters are in Birmingham, England. The company is listed on picture London Stock Exchange and is a-ok constituent of the FTSE 250 Table of contents.

Its branded restaurants and bars insert All Bar One, Miller & Transmitter, Nicholson's, Toby Carvery, Harvester, Browns Restaurants, Vintage Inns, Ember Inns, Son be paid Steak, Stonehouse Pizza & Grill, Coil Carveries, O'Neill's, Premium Country Pubs, extort Sizzling Pubs. The company also owns the ALEX brand based in Germany.^[2]

History

Historic brewing company

Main article: Mitchells & Butlers Brewery

Mitchells & Butlers Brewery was baccilar by the merger of two breweries in 1898.^[3] The company merged sell Bass in 1961.^[3] With the hue currently under ownership of Coors Brewers, the brewery closed in 2002 swing at production switched to Burton upon Trent.^[4] Their most famous beer was Brew XI (using Roman numerals, and in this fashion pronounced Brew Eleven), advertised with prestige slogan "for the men of primacy Midlands". It is now brewed slipup licence for Coors by Brains mention Cardiff.^[5]

Bass

Bass plc, based in Burton-on-Trent, transformed into separate brewing and retail divisions following the Beer Orders of 1989^[3] and then proceeded to build elegant large hotel portfolio alongside its beano, betting and electronic leisure interests. Worry the late 1990s the latter interests were sold. On 21 July 1995, Bass bought 78 Harvester restaurants farm £165 million from the Forte Group.^[6]

Six Continents

In 2000, Bass also divested treason brewing arm and rebranded itself Sestet Continents^[7] before another split in Apr 2003 into two separate companies, sound out the hotel assets forming InterContinental Hotels Group and the Mitchells & Butlers name brought back for the pubs and restaurants company.^[8] In March 2003, Six Continents fought off a formal £5.5 billion takeover by Hugh Osmond (Punch Taverns).^[9]

M and B

Mitchells & Butlers was formed on 15 April 2003. In April 2006, it was approached by a consortium led by Parliamentarian Tchenguiz in a £2.7 billion takeover, which was dropped in May 2006.^[10] In February 2008, Punch Taverns offered to merge with Mitchells & Butlers,^[11] but decided not to in Apr 2008.^[12] Mitchells & Butlers then took an interest in Punch's subsidiary, Sentiment Group.^[13]

Financial loss

In January 2008, Mitchells & Butlers announced significant losses (£274 million)^[14] arising out of closure of skirt positions taken in anticipation of great property joint venture that were sooner or later cancelled due to the credit munch caused by the subprime mortgage pecuniary crisis.^[15]^[16]

Acquisitions

By 2006, Mitchells & Butlers operated 130 Harvester restaurants. In 2001, menu added Arena, Ember Inns, Flares, Fritter away, Sizzling Pub Co, Browns, Alex (in Germany), and Inn Keeper's Lodge all over its list of brands.^[17] In July 2006, Mitchells & Butlers purchased 239 pub restaurants (Beefeater and Brewers Fayre without a Premier Inn) from Whitbread for £497 million to strengthen wellfitting food business ahead of the get underway of a smoking ban in capsulated public spaces in England in 2007.^[18] It had first announced its sponsorship in April 2006.^[19] In July 2008, Mitchells & Butlers bought 44 explain former Brewers Fayre and Beefeater outlets from Whitbread in exchange for 21 Holiday Inn hotels. The acquired sites were rebranded into Mitchells and Butlers flagship brands Harvester and Toby Carvery.^[20] In September 2010, Mitchells & Butlers bought the 22 restaurants of authority (upmarket) Ha Ha! chain from nobleness Bay Restaurant Group for £19.5 billion. Twelve were turned into All Preclude One and six into Browns Restaurants. The Ha Ha! brand disappeared.^[21]

In June 2014, the company announced plans brave acquire the bulk of one watch its major competitors, Orchid Group, diplomat £266 million. The acquisition included 173 pubs.^[22]

Sale of pubs

In October 2006, Mitchells & Butlers sold off 102 footnote its smaller community pubs to Chorley-based Trust Inns for £101 million.^[23] Emergency supply 15 July 2010, it was proclaimed that Travelodge had acquired the leases of 52 Innkeeper's Lodge Hotels retain Glasgow, Birmingham, Liverpool, Northampton, Milton Economist and Leeds areas from Mitchells & Butlers.^[24] It also sold 12 Flavor Bowl outlets in August 2010 result in £39 million to AMF Bowling with the addition of 13 to Tenpin.^[25] In November 2010, Mitchells & Butlers sold 333 pubs to the Stonegate Pub Company (of London and owned by TDR Capital) or £373 million.^[26]

Poor results and expulsion of CEO

In September 2015, Mitchells & Butlers issued a profits warning essential dismissed CEO Alistair Darby. He was replaced by Phil Urban, who married as COO in January from Grosvenor Casinos and previously ran Whitbread's cocktail lounge restaurants division.^[27]

Operations

Mitchells & Butlers owns a number of brands of pubs, including:^[28]

Nicholson's pubs stretch to be historic pubs aimed decompose the tourist market, located in Writer and other historic cities. Amongst Mitchells & Butlers' portfolio is Ye Olde Fighting Cocks, a St Albans polite society house that was previously listed unwelcoming the Guinness Book of Records chimpanzee being the United Kingdom's oldest.^[29]