Marston's buys Eldridge Pope pubs

Eldridge Pope's pubs are located across the south of England

Independent brewer Marston's has bought pub chain Eldridge Pope from entrepreneur Michael Cannon for £155m.

Marston's, which changed its name from Wolverhampton & Dudley Breweries at the start of this year, said it would keep 135 of Eldridge Pope's 153 outlets.

It intends to sell the remaining 18 sites for up to £10m.

The cash deal, which includes the assumption of Eldridge Pope's £17m debt, will increase Marston's pub estate to 2,485 outlets.

Rising sales

Marston's, best known for its flagship Pedigree bitter, owns the Pitcher & Piano and Taverners Carvery chains.

It added that its like-for-like sales, which exclude new pub openings, were up 7% in the 16 weeks to 20 January, compared with the same period a year earlier.

Eldridge Pope is based in Dorset, and its pubs are located across the south of England.

Marston's is based in Wolverhampton, and also brews beers in Burton-on-Trent and the Lake District.

Pub entrepreneur Michael Cannon bought Eldridge Pope in 2003.