Marston's completes Sovereign Inns takeover

Marston's has confirmed the completion of another pub takeover, adding the 33-strong Sovereign Inns business for £19.4m.

At its annual meeting, the business formerly known as Wolverhampton & Dudley Breweries said the Sovereign acquisition was completed on January 16, although no announcement was made to shareholders until today.

The meeting came a day after Marston's announced its £155m takeover of Eldridge Pope.

Ralph Findlay, chief executive, said that a good start to the new financial year had continued, with like-for-likes in the Marston's Inns & Taverns managed division up 7 per cent in the 16 weeks to January 20. "Strong growth in food sales contributed to this good performance," he said.

In the Marston's Pub Company tenanted and leased pub operation, "trading has remained good and is ahead of last year," while Marston's Beer Company achieved strong volume and market share growth in premium ale, although total beer volumes were "marginally" below last year.

Leicester-based Sovereign Inns, formerly called Marpletime, was founded in 1996.