Strategy review for Vaux with new managing director

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Related tags: Vaux breweries

A strategic review is set to be launched at Sunderland brewer Vaux with the arrival this week of a new managing director.Martin Grant has joined the...

A strategic review is set to be launched at Sunderland brewer Vaux with the arrival this week of a new managing director.

Martin Grant has joined the company, which operates 836 pubs, as it faces the prospect of a takeover or a shake-up of the business.

Pub companies, such as Enterprise Inns, have admitted they would consider buying some of Vaux's sites if they came up for sale.

"Enterprise is and has been an acquisitive group, so any tenanted pubs that came up for sale, or any managed pubs that could be converted, would be considered," Enterprise spokesman Adrian Shaw said.

Grant is expected to draw on his experience running Allied Domecq Leisure's managed estate, which includes brands such as Firkin and Big Steak Pub.

This month Vaux thwarted an "unsolicited" takeover bid from hotel group Stakis, which was chiefly interested in the group's profitable Swallow Hotels division.

Chairman Sir Paul Nicholson advised shareholders to reject the bid, saying "the potential and prospects of the company are excellent".

The pub operation, which is made up of 661 tenanted outlets and 175 managed, last month reported a disappointing performance for the half year.

The company was last week not believed to have put any part of its business up for sale or to be in talks with any other potential bidders.

Related topics: Other operators

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