Marston's splits from Carlsberg to focus on pub expansion

Marston’s has sold its 40% stake in its brewing joint venture with Carlsberg to create a business “entirely focused on pubs”.

 

The group, which operates 1,370 UK pubs and employs 10,000 people, said it had sold its share back to Carlsberg for £206m.

 

Marston’s said the move would create a pub business with a “strong position in the UK market and significant opportunities for further growth”.

 

It will continue its long-term brand distribution agreement with Carlsberg, which brews beers including Hobgoblin.

 

The two firms merged in 2020 to form the Carlsberg Marstons brewing company in a £780m deal.

 

Justin Platt, chief executive officer at Marston’s, said: "Today’s announcement represents a significant milestone for Marston’s as we realise our stake in CMBC.

 

“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.

 

“Crucially, [this deal] allows us to become a pure play hospitality business and focus on what we do best - namely, giving our guests amazing pub experiences.”

 

In an update to shareholders this morning, Carlsberg also announced it had agreed to buy soft drinks maker Britvic for £3.3b.