What the Sunday papers said - 17 February
The Sunday Times
Guy Hands has put the entire Nomura pub empire up for sale for an estimated £2bn. Mr Hands, who runs the principal finance group for the Japanese bank, has authorised the investment bank Schroder Salomon Smith Barney (SSSB) to try to sell both Unique Pub Company and the Voyager Pub Group, two of his most significant investments. Earlier this month SSSB advised Nomura on the sale of Inn Partnership to Pubmaster for £523m.
Tim Martin, executive chairman of JD Wetherspoon, says if he were running British Airways, he would drive its costs down to the same levels as companies like Ryanair and Go, and this is what needs to happen if the ailing airline is to survive.
The Sunday Telegraph
Morrells, the historic Oxford beer and pub company, is up for sale with an estimated price tag of £80m. The business is expected to attract strong interest from regional brewers such as Fuller's, Young's and Shepherd Neame. Pub companies such as Enterprise Inns, Pubmaster and Punch are also likely to be interested in the assets.
Punch Pub Company and sister retail operation Spirit Group are in the final stages of de-merging. The two businesses are close toagreeing a £2.1bn debt-split. Punch, the 4,250-strong tenanted estate heading for a stockmarket flotation, will assume £1.5bn of the debt and Spirti will take on £650m. Read more on Punch Retail's new identity, Spirit Group, on thePublican.com...
The Mail On Sunday
The Mail predicts that Scottish & Newcastle will sell its 1,500 pubs within a year to focus on becoming one of the dominant forces in global brewing. It says its acquisition of Hartwall Group, the £1.2bn Finnish brewer, is a major step in that direction, and that the time is coming when S&N has to make the final leap. Read more on S&N's bid for Hartwell Group on thePublican.com...
John Sunderland, chief executive of Cadbury Schweppes, says that Cadbury is likely to be a key player if there is further consolidation in the UK bottling market. The chocolate boss, who has a Cadbury's Caramel every day, says that pubs, offices and factories all present good growth opportunities for his company.
The Independent on Sunday
Interim results for food and drink giant Diageo (out this Thursday) should show mixed fortunes. They will be hit by the food arm of the business, and by its disposal of Burger King, but will be boosted by the outstanding progress of the drinks business, according to Deutsche Bank analysts.
The Observer
No industry-related news
The Sunday Express
No industry-related news
