May 22, 2020
Marston’s and Carlsberg UK to create £780m brewing joint venture
Pub group Marston's and the UK arm of Carlsberg have announced that they will combine their brewing arms to form a £780m business that will allow the two companies to merge operations and save costs. Marston's will have a 40 per cent stake in the joint venture, while Carlsberg will own the remaining 60 per cent. In April Carlsberg reported a 7 per cent decline in revenues in the first three months of the year because of pub and bar closures. Ralph Findlay, chief executive of Marston's, which operates six breweries in the UK, said the deal would allow the company to focus on its pub estate and reduce its debt load. Tomasz Blawat, managing director of Carlsberg UK, said: "We are now building a new beer company by combining two organisations with shared values and strong history and heritage in brewing." The combined group, which will be named Carlsberg Marston's Brewing Company, is expected to achieve £24m in annual cost savings at the end of the third year after completion, which is expected in the third quarter of this year.
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