Mitchells & Butlers sells group of community pubs for more than £100m

Mitchells & Butlers (M&B) has sold 102 community pubs to Trust Inns for more than £100m.

The smaller pub sites generated earnings before interest, tax, depreciation and amortisation of £10.2m in the year to 5 August 2006.

M&B said it expected the deal, worth £101m in total, to complete on 11 October.

Following completion, M&B will continue to provide support services to the Trust Inns pubs for nine months.

Trust Inns, previously the Pub Estate Company, was set up in 1995 and is headed by managing director Brian King. The deal gives it more than 600 tenanted pubs across the UK.

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By Chris Druce

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