Parent company NewRiver stated it will look at the potential for an initial public offering (IPO) of Hawthorn after a strategic review meaning the pub group would launch as a separately-listed company.
Other pub companies that also list on the stock market include JD Wetherspoon, Mitchells & Butlers, Marston’s, Fuller’s, Loungers and Revolution Bars.
Hawthorn CEO Mark Davies — who sits on the British Beer & Pub Association board, has steered the pub company since 2019 and served as chief financial officer at NewRiver for 12 years — will lead the IPO opportunity and step down from the NewRiver board in due course.
Next phase of development
“This is a tremendously exciting and important moment for Hawthorn and represents the next phase in the development of the company,” Davies said.
“NewRiver is, and has been, a strong custodian of this business, helping to build one of the UK’s leading community pub companies and enabling us, in the past 12 months, to provide industry-leading support to our pub partners and operators.
“This is the right time to be exploring the IPO opportunity. After building this business over the course of eight years, the NewRiver board has concluded Hawthorn can grow faster as an independent company and continue to drive towards our shared ambition of making Hawthorn the number one community pub company in the UK.”
This comes after the group estimated about two thirds (60%) have reopened this week, following the easing of restrictions, allowing pubs to reopen for outdoor trading only.
The remainder of the estate is expected to reopen in line with the Government’s roadmap when indoor trading is permitted next month (Monday 17 May).
Davies added: “As many of our pub partners and operators get back to doing what they do best this week – running brilliant community pubs – we are delighted to be sharing this news.
“We look forward to continuing to build the Hawthorn business, to returning to growth and to exploring opportunities to support more pubs and more pub partners.
“In many ways nothing will change and it is business as usual, and our focus will continue to be on building the very best community pub company, with industry-leading support and a people-first approach.”