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Last Updated: Monday, 11 April, 2005, 09:28 GMT 10:28 UK
Brewer Wolves eyes Jennings deal
Pint of beer being pulled
W&DB has been expanding rapidly
Wolverhampton & Dudley Breweries (W&DB) has said it is in takeover talks with brewer and pub owner Jennings Brothers.

W&DB, which brews Marston's Pedigree, said it was in talks over a bid of 430p per share, which would value Cumbria-based Jennings at 46m ($86m).

The continued operation of Jennings' brewery in Cockermouth would be "key", W&DB said.

Jennings brews beers such as Cumberland Ale and Cocker-Hoop, and also operates 128 pubs across northern England.

Good fit

The deal would protect and develop Jennings' heritage within a far larger and stronger group
John Rudgard, Jennings' chairman

"We believe that, if final terms can be agreed, W&DB would provide a good home for Jennings," said Jennings' chairman John Rudgard.

"Jennings' high quality pub business and strong brands represent an excellent geographic fit with W&DB's existing operations.

"The deal would protect and develop Jennings' heritage within a far larger and stronger group."

If completed, the takeover would be the latest in a series of expansionary moves from W&DB over the past year.

After a refinancing in March last year gave it funds to finance takeovers, W&DB has snapped up Wizard Inns and Burtonwood.

In addition to Marston's Pedigree, W&DB also brews Banks's, Hanson's and Mansfield beers. It also operates the Pitcher & Piano and Bostin' Locals pub chains.

W&DB's shares closed trading on Monday up 11p at 1141p.




SEE ALSO:
Wolverhampton & Dudley buys rival
03 Dec 04 |  Business


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