Liberation Group hails successful first year

Jersey-based pubco and brewer Liberation Group has reported revenues and pre-tax earnings have grown in the wake of its buyout from retail operation Sandpiper last year.

The company was founded last year to buy Sandpiper's pubs, brewing and rinks wholesale business in May last year. Sandpiper was the group created in the wake of CI Traders' acquisition by private equity firm Duke Street Capital.

Liberation, backed by Legal & General and headed by former London Town chief executive Mark Crowther, owns 65 pubs across the Channel Islands, as well as the Jersey Brewery and a drinks wholesale business.

Crowther said success was measure not only in terms of sales and profits but also because the group had done what it promised to do.

"We've invested across the pub estate, installed a new IT system and beefed up the drinks wholesale operation which sees our sales guys able to offer a better range."

20 of the group's pubs had been transferred to tenancies, with two thirds of the affected pubs' managers taking on an improved eight year tenancy agreement, versus the previous six monthly arrangements.

The group's brewery, previously a mainly keg operation, has also launched a cask ale, Liberation Ale, which is proving a success across the islands and was being lined up for export to the UK, Crowther said.