LONDON (Reuters) - British pubs and brewery group Marston's (L:MARS) said on Tuesday it had agreed to buy the beer division of north west England-based Thwaites for 25.1 million pounds.
Marston's, which has an estate of around 1,700 pubs and also brews ales such as Pedigree and Hobgoblin, said the acquisition included a 150 strong workforce and Thwaites' two leading premium brands, Wainwright and Lancaster Bomber ales.
"We are acquiring a very high quality business with good people and brands, and with growth potential," Marston's chief executive Ralph Findlay said in a statement.
Thwaites' beer business delivered core earnings of around 7 million pounds in 2014 and will add around 1.5 million pounds to Marston's 2014/15 pretax profit, the company said.
Marston's had been brewing Thwaites' beers since early 2014. As part of the acquisition it said it had entered into a long-term exclusive agreement to supply all beer, wine, spirits and minerals to Thwaites' pub estate.