Laurel may axe brands

in portfolio shake-up

by The PMA Team

Laurel Pub Company could axe up to a third of its brands as part of a major portfolio review. The company, which swallowed up SFI and Yates's this year, aims to focus on just three or four brands out of its 15-strong portfolio.

Laurel has recruited specialist retail consultants OCC to carry out the review of its branded concepts.

Chief executive Julian Sargeson said: 'It's pretty obvious you don't want to be running 15 different brands. OCC is talking to our customers about their needs and aspirations.

'It's too early to make assumptions about the outcome of this because we are taking a fresh look at everything. But we are looking to have a single figure number of brands at the end.

Laurel brands include Slug & Lettuce, Ha! Ha! Bar & Canteen, Yates's, Hog's Head and Fiesta Havana.

It also owns the Forno Vivo and Sante Fe restaurant brands. Sargeson has previously said Bar Me, aimed at younger high street clientele, is one brand under review.

Some observers have wondered whether the Litten Tree brand, acquired as part of the SFI deal, might be threatened in the review.

But a source close to Laurel owner Robert Tchenguiz voiced strong support for the brand this week.

The source said: 'It's not a trendy brand but, as traditional pub brands go, it's a very solid offer. It has growing food sales and stable drink sales.

'There are Litten Trees all over the country performing very strongly and providing the right offer for their community where a Slug & Lettuce or an All Bar One wouldn't be the right offer.

Laurel is on course to be operating from one office, in Luton, Bedfordshire, by November.

Analysts believe the 415-pub company will eventually have Ebitda of around £55m after central overheads.