Pubmaster looks for acquisitions despite W&DB failure

Pubmaster is to continue to look for new opportunities for expansion, despite its failed attempt to buy Wolverhampton & Dudley Breweries (W&DB).

John Sands (pictured)​, chief executive of Pubmaster, said he was disappointed at the result but added it was "not the end of the world".

W&DB shareholders ended the year-long battle for the brewer, which owns brands including Marston's and Banks's as well as the Pitcher & Piano chain of bars, by rejecting Pubmaster's cash on Monday of this week.

Forty seven per cent of the shareholders voted in favour of the 513p per share offer - just short of the necessary 50 per cent.

He added that despite the failure of the bid, Pubmaster would continue to look for opportunities elsewhere to grow the business. Just two days after the failed bid, the company bought 21 pubs in Scotland.

"We're focusing on developing our estate," Mr Sands said. "At the moment we're going through our plans, seeing what is viable"

W&DB is looking towards a planned restructuring programme in order to recover from Pubmaster's hostile bid.

W&DB's chief executive Ralph Findlay said: "It is now time to get on with running our business."

David Thompson, chairman of W&DB, added: "Over the last few months we have set out clear objectives for the development of W&DB and we are happy to be judged on our achievement of these."

The failure of the bid ended a year of uncertainty for staff at W&DB as well as its lessees. If Pubmaster had won, it would have sold breweries in Wolverhampton, Burton-on-Trent, Mansfield and Hartlepool, which could have affected up to 8,000 jobs.

Brian Revell, spokesman for the Transport and General Workers' Union, said: "This has been a long battle. We are now looking for a period of calm and stability for our hundreds of members who are involved in the company."

The failure of the hostile takeover bid was welcomed by the Campaign for Real Ale, which has been fighting to keep W&DB independent.