M&B sells off 53 more pubs

It is seeking buyers for its 53 franchised pubs and hopes to raise around £30m, the Independent on Sunday suggests. The sale is being handled by Sapient Corporate Finance, which handled the sale of 333 non-core pubs from M&B to Stonegate—a deal that was formally completed today (15 November). An industry source tells the IoS: “These are rather large, rather nice, rather interesting pubs.” Tenants and private equity funds are thought to be among those in the running to acquire the sites.

The sale continues M&B’s move away from drink-led pubs to food-focused operations. It is being overseen by chairman John Lovering, who said earlier this year that he wants to increase profitability and work the company’s brands harder.