M&B to open new Browns

11-Aug-2010 - Last updated on 12-Mar-2017 at 01:01 GMT

M&B: first new Browns since 2004

M&B is to open its first Browns Brasserie in more than half a decade after deciding it wants to treble the size of the brand to 50 sites.

Mitchells & Butlers (M&B) is to open its first Browns Brasserie in more than half a decade after deciding it wants to treble the size of the brand to 50 sites.

The company bought the brand in 1998 from private owners, but has not opened a new site since around 2004 when a Browns was launched at Butler's Wharf in London.

M&B will now convert a town pub from the estate, the stunning Athenaeum in Manchester's Spring Gardens, in November.

Plans are about to be submitted, but sources indicate that the local authority has been "very supportive" of the plan.

M&B currently operates 14 Browns sites, including six in London.

Sources indicate that M&B would like to add 35 sites to the Browns brand to get to 50 sites and around 25 new sites to the All Bar One brand.

An M&B source told the Morning Advertiser earlier this year: "We're looking to expand Browns and All Bar One selectively rather than aggressively, as is the case with brands such as Toby Carvery and Harvester."

It is understood that around 300 wet-led pubs are currently being marketed by Sapient Corporate Finance — further news on the company's disposal success here is expected in mid-autumn. There is also speculation that M&B will seek to sell its 65 franchise pubs in a block after spending two months allowing franchisees the chance to buy their pubs.

M&B's six drive brands are Harvester, Toby Carvery, Crown Carveries, Sizzling Pub Co, Premium Country Dining and Vintage Inns and the plan is to double their numbers to around 1,900 pubs in under five years.

Company scores £39m from sale of Hollywood Bowl sites

M&B has sold its 24 Hollywood Bowl sites to AMF Bowling for £39m. The move is part of M&B's bid to dispose of non-core assets and concentrate on growing its six key food-led brands, such as Toby Carvery, Harvester and Vintage Inns. M&B has sold all the operations and leasehold interests of Hollywood to AMF for a gross cash consideration of £27m. The deal is set to complete on 13 August.

It will sell the remaining freehold property interests at four of the sites for at least £12m.

M&B chief executive Adam Fowle said: "This further disposal of non-core assets is another important step towards focusing the business on our market-leading growth brands." Last week, the Morning Advertiser revealed that M&B had sold 15 of its 80 franchised pubs to 13 franchisees, after deciding they were non-core assets.