THE sale of the biggest pub group in the Channel Islands was completed yesterday for about £70 million.
A venture company owned by insurance giant Legal and General has financed the purchase of the 65 pubs across Jersey, Guernsey and Alderney that used to be part of the Ann Street pub group.
However, it has been bought on behalf of a group of individuals with a strong track record in the leisure sector. The new chief executive, Mark Crowther, said that it would operate under a new brand name that had yet to be announced. He said that it would be a business that reflected the culture of the islands and not an imported UK brand.
LGV Capital now also owns Jersey Brewery and two drinks distribution businesses, Victor Hugo in Jersey and Bucktrout & Co in Guernsey, as part of the package. Sandpiper CI bought the pubs last year as part of its £260 million takeover of CI Traders.
*Picture: The Victoria, in St Peter’s Valley, is among the pubs included in the sale
