Wadworth to sell 21 sites to Liberation

The Liberation Group has announced that its Bristol-based subsidiary Butcombe Brewery has exchanged contracts to acquire 21 pubs from Wadworth.

The sale, which has been agreed for an undisclosed sum, comes days after Wadworth announced the departure of its current CEO Chris Welham.

The acquisition is in line with Liberation’s longer-term strategy to grow Butcombe’s presence throughout the West Country via the acquisition of high quality, predominantly freehold pubs capable of supporting a premium food-led offering with accommodation. The acquisition will deliver an additional 140 rooms to the Liberation Group’s managed estate, taking the total number of rooms to 223.

Liberation will incorporate the acquired sites and associated employees into Butcombe’s existing 39-pub portfolio and intends to invest substantial capital into many of the businesses to support future growth.

The Channel Islands-based business will finance the entire cost of the acquisition by way of a new equity investment from its ultimate shareholder Caledonia Investments plc.

“I can confirm that we have exchanged contracts to sell 21 pubs to the Liberation Group,” says Charles Bartholomew, chairman of Wadworth. “We are working with our teams in each pub to enable the seamless transition to Liberation to take place over the next four weeks. I would like to sincerely thank all of our people in these 21 pubs for their significant contribution to Wadworth over many years. All Wadworth employees in the managed sites will transfer to Liberation under TUPE (Transfer of Undertakings Protection of Employment). I am in no doubt that these pubs will continue to thrive under their new ownership and remain central to the local communities that they serve.”

The following pubs will make their way into the Liberation portfolio:

• Avon Causeway Hotel, Christchurch

• Badminton Arms, near Bristol

• Beckford, Beckford

• Beehive, Caterton

• Bird in Hand, Reading

• Cotswold Gateway, Burford

• Crown Tolldown, Dyrham

• Dean Park Inn, Bournemouth

• Fish, Ringwood

• Fleet, Tewkesbury

• Fleur De Lys, near Bath

• Fox and Hounds, Theale

• George Norton St Philip, near Bath

• Goat & Tricycle, Bournemouth

• Hadley Bowling Green

• High Corner, Ringwood

• Kings Arms Hotel, Melksham

• Mill, Haslemere

• Penny, Bristol

• Victoria Arms, Old Marston

• White Hart, wroughton

“We are delighted to be welcoming the teams of these fantastic pubs to join Liberation Group and Butcombe Brewing Co,” adds Jonathan Lawson, CEO of the Liberation Group. “We have worked closely with Wadworth to ensure that the sites we’re bringing into the Liberation Group family are the best fit for us and that the transition is smooth and successful. With the support of Caledonia, our ultimate shareholder, we look forward to maximising the opportunities we believe these sites present via a blended approach to the offer and environment of these pubs delivered by their great teams.”