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| Type | Public (LSE: MAB) |
|---|---|
| Founded | 1997 |
| Headquarters | Birmingham, UK |
| Key people | Drummond Hall, (Chairman) Tim Clarke, (CEO) |
| Industry | Pubs |
| Revenue | £1,894 million (2007) |
| Operating income | £309 million (2007) |
| Net income | £(10) million (2007) |
| Website | www.mbplc.com |
Mitchells & Butlers plc (LSE: MAB) (also referred to as "M&B") runs over 2,000 managed pubs, bars and restaurants throughout the United Kingdom. The Company's headquarters are in Birmingham, England, United Kingdom. The company is listed on the London Stock Exchange and is a constituent of the FTSE 250 Index.
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History
The Mitchells & Butlers Brewery dates back to a merger in 18981 and was based in the Cape Hill area of Smethwick. The company then merged with Bass in 1961.1 With the brand currently under ownership of Coors Brewers, the brewery closed in 2002 with production switched to Burton upon Trent.2 The site is now a housing estate, although the M&B war memorial has been retained and restored.
Their most famous beer was Brew XI (pronounced Brew Eleven), advertised with the slogan "for the men of the Midlands". It is now brewed under licence for Coors by Brains of Cardiff. Bass plc transformed into separate brewing and retail divisions following the Beer Orders of 19891 and then proceeded to build a large hotel portfolio alongside its bingo, betting and electronic leisure interests. In the late 1990s the latter interests were sold. In 2000, it also divested its brewing arm and rebranded itself Six Continents1 before another split in 2002 into two separate companies, with the hotel assets forming InterContinental Hotels Group and the Mitchells & Butlers name brought back for the pubs and restaurants company.1
Mitchells & Butlers purchased 127 Harvester restaurants in September 1995 and by 2006, it had 130. In 2001, it added Arena, Emberinns, Flares, Goose, Sizzling Pub Co, Browns, Alex and Inn Keeper's Lodge to its list of brands.3
In July 2006, it purchased 239 pub restaurants from Whitbread for £497 million to strengthen its food business ahead of the introduction of a smoking ban in enclosed public spaces in England in 2007.4
In January 2008, Mitchells & Butlers announced significant losses arising out of closure of hedge positions taken in anticipation of a property joint venture that were eventually cancelled due to the credit crunch caused by the 2007 subprime mortgage financial crisis.56
Operations
Mitchells & Butlers now owns several brands of pubs, including Harvester, Sizzling Pub Co., Scream, Toby Carvery, Ember Inns, All Bar One, Browns, Flares, Reflex, O'Neill's and Goose. The company also owns Hollywood Bowl, which runs 25 ten pin bowling alleys around the UK. Other brands and concepts include: Vintage Inns, Castle, Edwards, and Bar Alex (Germany).
References
- ^ a b c d e "Our history". Mitchells & Butlers. Retrieved on 2008-03-26.
- ^ "Brewery at Quaffle". Directory of Real Ale Breweries. Retrieved on 2008-10-03.
- ^ Cunill, Onofre Martorell (2006). The Growth Strategies of Hotel Chains: Best Business Practices by Leading Companies. Haworth Press. p. 29. ISBN 0789026643.
- ^ Beefeater sites bought by Mitchells & Butlers
- ^ Simon Bowers (2008-01-28). "M&B could blow a year's profit on £300m hedge loss". Guardian Unlimited. Retrieved on 2008-03-26.
- ^ Simon Bowers (2008-01-29). "Tchenguiz raises stake in pub group". Guardian Unlimited. Retrieved on 2008-03-26.
External links
- Mitchells & Butlers plc
- Entry for brewery at Beer Mad
- Mitchells & Butlers company profile on CatererSearch
Wikipedia content modification information:
- This page was last modified on 26 December 2008, at 12:47.
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