Guinness Peat sells Adnams stake

By Mark Wingett, M&C Report

- Last updated on GMT

Related tags: Holding company, Shareholder, Share, Adnams

Adnams: GPG has sold its stake
Adnams: GPG has sold its stake
Guinness Peat Group, which has stakes in a number of the UK's leading brewers and pub groups, has sold its stake in Adnams for around £2.2m.

Guinness Peat Group (GPG), the activist shareholder with stakes in a number of the UK's leading brewers and pub groups, has sold its stake in Adnams for around £2.2m.

GPG owned 5.4% of the total share capital in the Suffolk brewer and pub operator.

The investment company, which has still has stakes in Young's, Thwaites, Shepherd Neame and Fuller's, said in February this year that it would return at least £75m to shareholders this year as it planned to sell off its asset portfolio, leaving the investment holding firm with just its thread manufacturing business.

GPG had criticised the running of the Plus-listed Adnams a number of times over the years.

In 2009, it called for the company to dismantle the "anachronistic dual share structure" that gives the Adnams family and other long-standing backers effective control — an echo of the ultimately successful campaign it waged against Young's, the London brewer.

Related topics: Beer

Property of the week

The Black Horse Inn

£ 400,000 - Freehold

Delightful, freehold village public house and restaurant   KEY FEATURES A very attractive and long established, traditional country pubFreeholdDining for approx. 40 covers split between bar and conservatory14...

Follow us

Pub Trade Guides

View more