Pub operator swaps assets

31/07/2008 16:55:57

A deal has been confirmed between pub operator Mitchells & Butlers (M&B) and pub-restaurant chain Whitbread, signalling change for people seeking hospitality jobs with the two companies.

Under the agreement, M&B will acquire 44 of Whitbread's pub-restaurants and Whitbread in turn will receive 21 Express by Holiday Inn hotels from the pub operator.

One shareholder told the Telegraph: "M&B has been successful at taking Whitbread pubs and doing a better job at running them, while Whitbread is among the hotel sector's top operators with Premier Inn."

In the exchange no jobs will be affected, people will simply be transferred between the two companies.

Meanwhile, M&B chief executive Tim Clarke said the deal demonstrates his firm's "ability to create value from the non-core assets".

Whitbread has just announced that its employees have enjoyed £4 million worth of shares through its annual sharesave scheme, reflecting the benefits the company offers it staff.

Pub Jobs Nationwide

• Print this page
• Forward to a friend