Admiral Taverns acquires 18 freehold pubs from Marston’s: Admiral Taverns has made its second significant acquisition of the year after acquiring a portfolio of 18 freehold pubs from Marston’s for an undisclosed sum. The Proprium-backed business, which acquired 37 freehold pubs from Fuller’s for £18.3m earlier this summer, said the acquisition brings its total estate to more than 1,420 and further strengthens its portfolio of community-focused pubs that “support and give back to their local communities”. It said that the portfolio of 18 “high-quality wet-led establishments” spans the UK, located in counties including Dorset, Derbyshire and Yorkshire. Admiral said it has a successful track record of acquiring community pubs and “unlocking growth opportunities through its award winning, licensee-centric approach”. The business has invested more than £38m in the last 12 months in key areas including major refurbishments and sustainability upgrades to individual pubs. Chris Jowsey, chief executive of Admiral Taverns, said: “I’m looking forward to welcoming these licensees to Admiral Taverns and working together to grow these pubs as profitable small businesses and social hubs for their communities. We have a strong relationship with Marston’s and are delighted to make this acquisition, delivering against our strategy to grow our estate of profitable, community pubs. The deal also highlights the positive momentum and real resilience we’ve seen in the sector, particularly across our wet-led community estate as people have used their local pubs in recent months to enjoy a summer of sport with both the Euros and the Olympics encouraging people to visit. We remain optimistic that our licensee-centric approach, entrepreneurial licensees and high-quality estate continue to put us at the forefront of opportunities in our wider market.” Andy Kershaw, director of property at Marston’s, added: “This sale further demonstrates our objective to review our estate in line with our strategic goals. We have a long-term relationship with our colleagues at Admiral, and it is the perfect home for these pubs which align well to their business.” Marston’s was advised on the deal by Noel Moffitt at Christie & Co. Admiral Taverns features in the Premium Club Turnover & Profits Blue Book, the next edition of which will be sent to Premium Club subscribers on Friday (13 September) at midday. Admiral Taverns’ turnover of £182,028,000 for the year ending 28 May 2023 is the 65th highest in the database. The Blue Book ranks companies by turnover, profit and profit conversion, listing directors’ earnings for the past five years. Companies can now have an unlimited number of people receive access to Premium Club for a year for £995 plus VAT – whether they are an operator or a supplier. The single subscription rate is £495 plus VAT for operators and £595 plus VAT for suppliers. Email kai.kirkman@propelinfo.com to upgrade your subscription.

UKHospitality calls for permanent lower hospitality multiplier to avoid business rates ‘cliff edge’: UKHospitality has called for a permanent lower hospitality multiplier to avoid a business rates “cliff edge”. With current business rates relief set to end on 31 March 2025, it said hospitality businesses are facing the prospect of their business rates bills increasing by tens of thousands of pounds. A pub with a rateable value of £80,000 could see its rates increase by almost £33,000 if relief were to end. “It’s imperative that the government addresses the looming business rates cliff edge at the upcoming Budget as the sector’s ability to both survive and thrive depends on it,” said chief executive Kate Nicholls. “A new, lower multiplier for all hospitality businesses would begin to rebalance a broken system that is weighted against bricks-and-mortar businesses, and a permanent solution would provide some certainty and stability for businesses that desperately need it.” The key ask was part of the trade body’s Budget submission, which also saw it call for the government to support enhanced back-to-work schemes and a reform of the apprenticeship levy. It also wants to see the government promote growth by unlocking the commercial planning system, including fast-track planning approvals, and reduce employer National Insurance contributions to support businesses increasing wages. Furthermore, it wants to see support for green investment in the sector and a VAT reform for the sector to bring it in line with European rivals.

One in three UK adults have been to pub, club or bar to watch live sport in past year: One in three UK adults have been to a pub, club or bar to watch a live sports event in the last year, according to new research unveiled by Public First, commissioned by Sky. The findings showed UK sports fans are on track to generate £13bn a year for the UK economy by 2034, as there could be an additional ten million new UK sports fans over the next decade. Of the one in three UK adults that have been to a pub, club or bar to watch a live sports event in the last year, 86% of those ordered a drink, 58% bought snacks and 46% ordered a meal. The research also found Sky Sports coverage generated an additional £1.1bn for British pubs in 2023, equivalent to selling an additional 230 million pints of beer. Social connections are the second biggest reason people watch games out of home; 75% of fans visit with bigger groups than they usually would when visiting pubs generally. In 2023 alone, Public First estimates that Sky Sports underpinned almost £4bn in economic activity in the UK. This is equivalent to more than £10m a day.

World lager and new launches driving beer category growth: World lager and new launches are driving growth in the beer category, which is now worth £13.5bn to UK pubs and bars, equivalent to three billion pints sold each year, and remains the UK’s favourite alcoholic drink, according to new research. Heineken UK’s third annual Beer Report showed in the past 12 months, three of the UK’s top draught beer brands have exceeded £1bn in value sales. Guinness tops the bill at £1.3bn, up 22% in value, followed by Carling, down 6.3% to £1.1bn, and Birra Moretti, up 2.7% to hit £1bn in draught sales for the first time. New product launches since 2020 also now account for 9% of beer value share. The most successful launches for total 2023 were Guinness Draught 0.0, growing rapidly to be worth £19m to the on-trade; Stella Artois Unfiltered, already worth £7.5m, and – in the top spot – Sevillian lager Cruzcampo, growing from launch to be worth £128m in on-trade sales in under a year. A significant driver behind the success of beer in the on-trade over the past 12-months is growth of the world lager category, which comprises 28% of the beer market. Meanwhile, no and low-alcohol beer was up 40% in value over the past year but is still a small part of the market, commanding 1% value of the total on-trade beer scene.