Ushers revises plans to float on market
Tuesday 21 January 1997
Ushers first tried to come to market three years after a management buy- in from Grand Metropolitan was followed by the acquisition of a 430-strong pub estate from Courage. Market conditions were against the first attempt, compounded by worries that a brewing contract with Courage would expire without the business being replaced.
Roger North, chief executive, said yesterday Ushers had created a strong contract brewing business to replace the Courage contract which ran out in November. Ushers has rebranded and refurbished its estate, which numbers 542 mainly tenanted pubs. The brewer's own ales have been introduced throughout the pub chain and Ushers' beers account for 65 per cent of sales from a standing start.
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