Search

Harvester owners seals £266m deal

PUBLISHED: 12:01 16 June 2014

Toby Carvery:- Captain Manby on Beacon Park, Gorleston
Eating Out 

Picture: James Bass
Copy: Stephen Pullinger
For: EDP Sunday
Eastern Daily Press © 2009  (01603) 772434

Toby Carvery:- Captain Manby on Beacon Park, Gorleston Eating Out Picture: James Bass Copy: Stephen Pullinger For: EDP Sunday Eastern Daily Press © 2009 (01603) 772434

Archant Norfolk Photographic © 2009

The owner of Harvester and Toby Carvery added 173 pubs to its estate today after agreeing to buy a food-led pub chain in a deal worth £266 million.

Mitchells & Butlers said more than half of the pubs in the acquisition of the majority of the Orchid Group will be converted to its existing formats and brands, which include All Bar One, Nicholson’s and Crown Carveries.

Orchid was set up in 2006 and now features more than 200 pubs across seven concepts, including pizza kitchens and Thai pub restaurant Dragons.

Mitchells currently generates average weekly sales of £22,700 from its pub restaurants and believes the strength of its brands and experience will enable it to improve on the £15,300 per week made at the acquired pubs.

A further 77 pubs have recently received investment and will continue in their current format, while benefiting from purchasing synergies as part of Mitchells.

The Orchid estate, which was created following the purchase of 300 pubs from Punch Taverns, has many of its outlets in the South East and North West of England. Today’s deal excludes a number of leasehold sites.

Mitchells is the UK’s largest operator of managed restaurants and pubs, with an estate comprising more than 1,600 outlets.

Search hundreds of local jobs at Jobs24

comments powered by Disqus
Management Jobs

Show Job Lists

Newsletter Sign Up

Sign up to receive our regular email newsletter

Insight

Dr Belinda Clarke wants to be a “catalyst” to turn science and technology innovations into useful tools for the food and farming industries. She told CHRIS HILL how this drove her leadership of Agri-Tech East, winner of an EDP Business Award.

Simon Innes had more than 15 years of retail management experience when he joined CVS Group in 2004 and has since steered the company
to national success and an EDP Business Award. He told BETHANY WHYMARK about the company’s growing dominance in the animal care sector.

Green 100

cover

Enjoy the Green 100
digital edition

Read
0

Meet the Team

Mark Shields

Business Editor

|

Chris Hill

Agricultural and Farming Editor

|

Business Most Read

Awards

Norfolk Future 50 EDP Business Awards Green 100

Business Most Commented