Richard Bailey, chief executive of Daniel Thwaites, has said the £25m raised from selling its beer division will allow the company to grow its Inns of Character division even quicker.
Bailey said the company had set a target of growing the division from eight currently to 20 within 5 years and said this week’s deal with Marston’s put the company in a strong position.
He said: “It means that if the opportunities arise to acquire suitable sites, we are in a great position to go after them. We will continue to be careful with what we buy but it means we are able to actively look at that.”
Bailey added: “There are a number of opportunities that this will allow us to look at. We will not constrain ourselves to the North West but we will look to consolidate our position in areas we are already in.”
He said the company would continue its rolling programme of refurbishments, both in its hotels and pubs business.
He insisted that brewing would remain a part of the Daniel Thwaites business model, saying: “We have retained some of our beer brands because it was important to us that we continue to be able to brew and supply our own beers into our properties.”
He added: “We have got the craft ale range and we won’t be stopped from developing new products.
“Where we have put it into refurbished pubs it is selling really strongly. It’s a ery exciting area for the future for us.”
On the background to the deal, Bailey said: “This isn’t something we sought – Marston’s approached us and through those discussions it became clear that the potential to grow that business was greater with Marston’s than it was with us alone. It also provides great job security for our workers.
“It was a deal that suited both sides very well.”
