Liberation Group to manage LGV Channel Island portfolio
LGV Capital has successfully completed its acquisition of 65 Channel Island pubs and two drinks distribution firms from Sandpiper CI after the deal was cleared by competition authorities.
LGV has set up the Liberation Group to manage the Channel Island operation with Mark Crowther as chief executive.
LGV was a previous investor in the Unique Pub Company, sold to Enterprise Inns in 2004.
"The creation of The Liberation Group will enable this part of the hospitality sector to move forward as a unified group under the leadership of an experienced team of directors who have a proven industry track record both in and outside the islands," said Crowther.
"We have come into this to invest, with the primary aim of growing the business in the mid- to long-term.
"We expect some of the managed pubs to move to tenancies, with some of our existing tenancies moving to longer agreements. Our objective is to build stability, confidence and growth.
He added: "The deal was largely worked out around the time of Liberation Day (2008), which had an impact on some of the deadlines of the transaction. It became difficult to even discuss the deal without mentioning Liberation Day, so it seemed natural to name the group after the Channel Islands' most important celebration.
"We believe the name also reflects our values of independence, individuality and optimism, which are at the heart of the Channel Island character.
"The buy-out has regrouped the drinks and hospitality elements into a single, specialised organisation, and we are pleased to be putting them back together, so that they are 'joined at the hip' because that is how they should be."
