Eversheds has spoken of its role in Mitchells & Butlers’ sale last month of 333 pubs to TDR Capital.
The £373 million deal saw the pubs offloaded to Stonegate Pub company, which is controlled by the private equity firm.
Partner Iftkhar Ahmed, who led the Eversheds team assisted by senior associate Marie-Louise Ludlow, said: “Mitchells & Butlers is a long standing and valued client, who we have also recently advised on the sale of its lodge and bowling businesses.
“This disposal to Stonegate is in line with M&B’s strategy and will enable MAB to reinvest in food led sites and expedite their site acquisition programme.”
M&B is reshaping itself into a food-led business in a search for higher margins and a bigger share of Britain’s £70 billion food hospitality market. Under the deal, the pub businesses sold include Scream, High Street Bars & Venues, Town Pubs and Community Pubs.
Partner Iftkhar Ahmed led the Eversheds team, assisted by senior associate Marie-Louise Ludlow. Iftkhar comments:
“Mitchells & Butlers is a long standing and valued client, who we have also recently advised on the sale of its lodge and bowling businesses. This disposal to Stonegate is in line with MAB’s strategy and will enable MAB to reinvest in food led sites and expedite their site acquisition programme.”
