Mitchells & Butlers
From Wikipedia, the free encyclopedia
| Mitchells & Butlers plc | |
|---|---|
 |
|
| Type | Public (LSE: MAB) |
| Founded | 1997 |
| Headquarters | Birmingham, UK |
| Key people | Roger Carr, Chairman Tim Clarke, CEO |
| Industry | Pubs |
| Revenue | £1,720 million (2006) |
| Operating income | £309 million (2006) |
| Net income | £195 million (2006) |
| Website | www.mbplc.com |
Mitchells & Butlers plc (LSE: MAB) runs managed pubs, bars and restaurants in over 2,000 outlets. Their headquarters are in Birmingham, England, United Kingdom and the company is listed on the London Stock Exchange and is a constituent of the FTSE 250 Index as of 24 December 2007.
Contents |
[edit] History
The Mitchells & Butlers Brewery dates back to a merger in 1898 and was based in the Cape Hill area of Birmingham. The company then merged with Bass in 1961. With the brand currently under ownership of Coors Brewers, the brewery closed in 2002 with production switched to Burton upon Trent.
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 1989 and then proceeded to build a large hotel portfolio alongside its bingo, betting and electronic leisure interests. In the late 1990s these were sold. In 2000, it also divested its brewing arm and rebranded itself Six Continents 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, Browns, Aex and Inn Keeper's Cottage to its list of brands.[2]
[edit] Assets
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. 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. Other brands and concepts include: Vintage Inns, All Bar One, Harvester, Edwards, and Bar Alex (Germany).
[edit] 2007-08 financial troubles
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.[3][4]
[edit] References
- ^ Our history. Mitchells & Butlers. Retrieved on 2008-03-26.
- ^ Cunill, Onofre Martorell (2006). The Growth Strategies of Hotel Chains: Best Business Practices by Leading Companies. Haworth Press, 29. ISBN 0789026643.
- ^ 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.
[edit] External links
- Mitchells & Butlers plc
- Entry for brewery at Beer Mad
- Entry for brewery at Quaffle
- Mitchells & Butlers company profile on CatererSearch
