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Punch unveils plans to downsize leased estate
By Pete Hayman
Punch Taverns has announced its plans to downsize its leased estate to around 3,000 pubs, following the completion of a "comprehensive" strategic review of the business.
The group is also proposing to de-merge its Spirit managed pub division and to create two independent public companies, a move due to be completed by the end of the summer. Punch Taverns chief executive Ian Dyson said: "We believe that there is a significant value creation opportunity at Punch, with immediate upside in managed and longer term upside in leased.
"We do not believe that either opportunity can be maximised within the current group structure and accordingly, we propose that the two businesses be separated."
Punch Taverns has announced its plans to downsize its leased estate to around 3,000 pubs, following the completion of a "comprehensive" strategic review of the business.
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