UK pub group Mitchells & Butlers acquires Orchid Group for £266m

Monday 16 June 2014 07.28
Mitchells & Butlers buying 173 Orchid pubs in the UK
Mitchells & Butlers buying 173 Orchid pubs in the UK

UK pub group Mitchells & Butlers said it had acquired rival operator Orchid Group for £266m in cash, in a deal which it expects to lead to a double digit boost to earnings. 

The company, which operates pubs such as All Bar One, said last month it was in exclusive talks to buy the majority of the activities of Orchid. 

Mitchells & Butlers is buying 173 Orchid pubs in a deal which will provide cost savings and annual synergies of at least £6m.