Marston’s is “refocusing” on its pubs and accommodation business after striking a £780m tie-up with Carlsberg for its brewery operations.
The joint venture, Carlsberg Marston’s Brewing Company, values Marston’s brewery business at £580m and Carlsberg’s UK brewery business at £200m. Marston’s will take a 40% stake in the jv as well as a payment of £273m. Carlsberg UK will hold the remaining 60%.
Marston’s said “structural changes in the beer market” had led it into talks with Carlsberg late last year.
It said: “This transaction recognises both the value of Marston’s brewing business and allows Marston’s to retain an active and substantial investment in the new brewing joint venture whilst refocusing with greater emphasis on its pub and rooms business.”
The jv will exclusively provide drinks to Marston’s pubs.
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