Birmingham-based pubs group Mitchells & Butlers has sold off 102 outlets to privatelyowned Trust Inns in a deal worth £101 million.
M&B, which has its headquarters in Fleet Street, Birmingham, said the sale involved smaller, community pubs located all over the country.
These included a small number in the Birmingham area - The Bear at Sparkhill; The Goose at Capehill, The Kingfisher at Kingstanding and The Woodpecker at North-field. In the 12 months to August 5 the pubs generated earnings of £10.2 million.
The company said it expects completion of the sale on October 11.
After completion, Mitchells & Butlers has agreed to provide certain services to Trust Inns, based in Chorley, Lancashire, to support the pubs for up to nine months.
Earlier this year M&B clinched a deal to buy 239 pub restaurants from leisure group Whitbread for £497 million in a move to further cash in on the growing demand for eating out in pubs.
