Private equity favourite to snap up M&B

Three private equity companies have emerged as front runners in the race to buy Mitchells & Butlers.

According to reports in today’s Times TPG and CVC Capital Partners, the joint owners of Spirit Group before its sale to Punch Taverns in 2006, and Cinven, former owner of the Unique Pub company before its was sold to Enterprise Inns in  2004, are all thought to be considering a return to the pub trade.

Punch Taverns ruled itself out of the running earlier this week after long being touted as a potential suitor leaving the way open for a private equity bid.

Yesterday M&B held its annual general meeting of shareholders where the company’s directors came under fire for their decision to pursue a strategy of seeking to release value from property assets at a cost of £274m.

At the meeting M&B chairman Roger Carr admitted that the tentative approaches to buy the company had yet to result in any serious discussions over a sale.

Read the full article in the Times here >>

Punch Taverns denies M&B takeover bid >>

Caterer Blog: Hedging and Mitchells & Butlers explained >>

Board at Mitchells & Butlers under fire after £274m loss >>

By Christopher Walton

 

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