Tags:

Spirit Group confirms S&N Retail purchase

Jessica Gunn
Friday 30 April 2004 15:34

Spirit Group ended months of speculation last week by announcing confirmation of its £2.5b acquisition of Scottish & Newcastle's (S&N) managed pub, restaurant and budget hotel group.

Some 99.7% of S&N's shareholders agreed to the sale of its 1,450 pubs in a vote.

A new management team has been put in place to oversee the integration period following the resignation of former S&N Retail chairman and managing director, Bob Ivell.

Ivell and Nigel Turpin, S&N Retail's planning director, are to stay on in an advisory capacity to aid with the transition period, however.

Karen Jones, chief executive of Spirit, will now lead the newly created 2,600-strong group, Spirit Amber, which is owned by private equity firms Texas Pacific, Blackstone, CVC and Merrill Lynch Global

S&N received more than a dozen expressions of interest after putting its business up for sale in April. Spirit eventually emerged as the winner after a close-run battle with rival Laurel Group, backed by Cinven.

Recommended articles

Articles from the web

 
Profiting from 2012: Case Studies

Slash VAT, Boost business - Sign the petition now!

Latest Video

Foraging – why all the attention?

Using foraged ingredients is nothing new but the trend has become more mainstream over the past two years. However, the wider use of foraged food in restaurants also carries a certain amount of danger.

Watch here

Best of chef

Best of Chef – now available online

Best of Chef – now available online
View it now

Videos

Video: Foraging – why all the attention? Video: Bordeaux Revisited with Ronan Sayburn Claire John Campbell
Foraging:
why all the attention?
Watch the video here
Bordeaux Revisited
with Ronan Sayburn
Watch the video here
Claire Clark
masterclass
Watch the video here
Interview with John Campbell
at Coworth Park
Watch the video here