Liberation Group merges with Cirrus Inns
Liberation Group, the UK and Channel Islands pub, brewing and drinks business, has announced it will be merging with Cirrus Inns – a 22-strong premium pub business which trades from south-west London across to the Cotswolds.
The combination deal brings the group's estate to 137 pubs, perdominantly freehold, made up of 79 managed and 58 tenanted sites. The company now also has a premium accommodation offering of over 400 rooms, stretching from south-west London to Bristol and the Channel Islands.
Jonathan Lawson, Liberation CEO, will lead the combined business, with Alex Langlands Pearse ("Langy"), Cirrus Inns founder and CEO, joining Liberation Group’s Board as non-executive director.
In parallel with the transaction, Liberation Group has agreed new, long-term banking facilities with three of its existing lenders, HSBC, Santander and NatWest.
Lawson comments on the deal: "Liberation Group, Cirrus and our respective majority shareholders, share a very similar view of pubs, and the unique role they play in our communities. Langy and his team have built a superb business which we are incredibly proud to welcome into Liberation Group.
"This move is consistent with our strategy of focusing on freehold premium food led pubs with rooms and provides us with further volume growth for our highly successful and award-winning beers such as Butcombe Original, Liberation IPA and our brand-new Tall Tales Pale Ale. I would like to thank Liberation Group’s majority shareholder, Caledonia Investments plc (“Caledonia”) for their support with this transaction."