Marstons Regulatory News (MARS)

3 Apr 2008 12:00

Marston's PLC03 April 2008 3rd April 2008 Marston's PLC Acquisition of Ryland Thompson Limited and subsidiaries including Refresh UK plc ("Refresh") Marston's announces that it has acquired Ryland Thompson Limited and itssubsidiaries, of which Refresh UK plc ('Refresh') is the trading arm. Refresh was established in 2000. Its Wychwood Brewery in Witney, Oxfordshirebrews 50,000 barrels of beer per annum, including award winning brands such asHobgoblin and Brakspear. Refresh is also the UK's largest brewer of organicales, including Duchy Originals Organic Ale. In addition, Refresh has partnership arrangements with Wadworth, Thatchers(cider), LowenbrTM?u and Innis & Gunn. The business has successfully establisheditself as a significant supplier to the take-home market, and also distributesto pubs and export markets. In the year ending 31st May 2007 the business had a turnover of £24.9m andgenerated EBIT (earnings before interest and taxation) of £1.1m. The acquisitionis expected to be earnings enhancing in the first full year of operation. This acquisition is consistent with Marston's strategy of continuing to developa portfolio of well-established premium beer brands to complement the coreMarston's range led by Marston's Pedigree. Following the acquisition Marston'shas an unrivalled range of beers to offer to its pub customers, and an increasedshare of the growing take-home market. Commenting on the acquisition, Rupert Thompson, Chief Executive of Refresh UKplc, said: "Refresh has achieved a great deal in the eight years since it wasfounded. It is now the no. 3 supplier of premium bottled ales to supermarketsand Hobgoblin is one of the fastest growing premium ales in the U.K. The nextstage in the business's development was likely to involve a link-up with alarger partner or an acquisition. Marston's has shown a real commitment tobuilding an exciting range of quality premium ales. I am confident thatMarston's will provide a great home for Refresh, allowing its brands and peopleto develop further." Commenting on the acquisition Alistair Darby, Managing Director of Marston'sBeer Company, said: "We are delighted to welcome Refresh to Marston's. We planto develop its excellent brands as part of our strategy to meet growing consumerdemand for premium ales with strong provenance and heritage. Our premium alebusiness continues to deliver good, consistent growth and we look forward torepeating the success of the Jennings and Ringwood brands with the Refreshportfolio." ENQUIRIES: Marston's PLC Telephone: 01902 329 656Alistair Darby, Managing DirectorMarston's Beer Company Vital PR Telephone: 01926 338 811Jeremy Eaton Hudson Sandler Telephone: 020 7796 4133Nick Lyon This information is provided by RNS The company news service from the London Stock Exchange