Marston's PLC
03 April 2008
3rd April 2008
Marston's PLC
Acquisition of Ryland Thompson Limited and subsidiaries including
Refresh UK plc ('Refresh')
Marston's announces that it has acquired Ryland Thompson Limited and its
subsidiaries, of which Refresh UK plc ('Refresh') is the trading arm.
Refresh was established in 2000. Its Wychwood Brewery in Witney, Oxfordshire
brews 50,000 barrels of beer per annum, including award winning brands such as
Hobgoblin and Brakspear. Refresh is also the UK's largest brewer of organic
ales, including Duchy Originals Organic Ale.
In addition, Refresh has partnership arrangements with Wadworth, Thatchers
(cider), LowenbrTM?u and Innis & Gunn. The business has successfully established
itself as a significant supplier to the take-home market, and also distributes
to pubs and export markets.
In the year ending 31st May 2007 the business had a turnover of £24.9m and
generated EBIT (earnings before interest and taxation) of £1.1m. The acquisition
is expected to be earnings enhancing in the first full year of operation.
This acquisition is consistent with Marston's strategy of continuing to develop
a portfolio of well-established premium beer brands to complement the core
Marston's range led by Marston's Pedigree. Following the acquisition Marston's
has an unrivalled range of beers to offer to its pub customers, and an increased
share of the growing take-home market.
Commenting on the acquisition, Rupert Thompson, Chief Executive of Refresh UK
plc, said: 'Refresh has achieved a great deal in the eight years since it was
founded. It is now the no. 3 supplier of premium bottled ales to supermarkets
and Hobgoblin is one of the fastest growing premium ales in the U.K. The next
stage in the business's development was likely to involve a link-up with a
larger partner or an acquisition. Marston's has shown a real commitment to
building an exciting range of quality premium ales. I am confident that
Marston's will provide a great home for Refresh, allowing its brands and people
to develop further.'
Commenting on the acquisition Alistair Darby, Managing Director of Marston's
Beer Company, said: 'We are delighted to welcome Refresh to Marston's. We plan
to develop its excellent brands as part of our strategy to meet growing consumer
demand for premium ales with strong provenance and heritage. Our premium ale
business continues to deliver good, consistent growth and we look forward to
repeating the success of the Jennings and Ringwood brands with the Refresh
portfolio.'
ENQUIRIES:
Marston's PLC Telephone: 01902 329 656
Alistair Darby, Managing Director
Marston's Beer Company
Vital PR Telephone: 01926 338 811
Jeremy Eaton
Hudson Sandler Telephone: 020 7796 4133
Nick Lyon
This information is provided by RNS
The company news service from the London Stock Exchange
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