Sun, 22 Apr 2018 | BUSINESS SALE
Whitbread bosses are believed to be contemplating hiving off the Costa Coffee chain in what would essentially represent a break-up of the FTSE 100 quoted business.
According to our city sources, this follows pressure from its biggest shareholder, Elliot Advisers. The shareholder activist group has just announced it now holds a 6 per cent stake in the UK’s largest hospitality company.
The idea that Whitbread should sell off the Costa Coffee, which has over 2400 outlets, has been mooted by investors and analysts for over a year. The simple reason given is that a split business would result in a combined value of around £10 billion, a big increase on the present market cap of £7.2 billion.
However pressure to seriously consider hiving off Costa Coffee really began once hedge fund Sachem Head divulged taking a 3.4 per cent stake in Whitbread a few months back. It signalled its desire for a break-up in December 2017 to the Whitbread management team, led by chief executive Alison Brittain. Whitbread would be left with its Premier Inn brand, with over 750 hotels in the United Kingdom, and the Brewers Fayre and Beefeater restaurant chains.
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Whitbread was originally founded as a brewery 276 years ago by Samuel Whitbread and Godfrey and Thomas Shewell. Its pubs, hotels and coffee shops now record annual revenues in excess of £3 billion with over 50,000 employees.
This outstanding hotel business is now for sale in Buckingham. Since its founding in 2000, it has built up an impressive client base. Having a freehold tenure on the property aids an easy transition for a new owner. It sees a high annual turnover, pr...
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The inn, sits well along New Street within the North Ayrshire town of Stevenston. It is one of the “Three Towns” along with Ardrossan and Saltcoats, on the east coast of the Firth of Clyde. They offer a host of local and high street amenities includi...
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A well-presented and spacious accommodation to the rear of the hotel comprising 3 bedrooms, newly fitted kitchen (2021) and office on the ground floor with lounge and bathroom/shower on the first floor. In addition, direct access is given to a possib...
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