The chairman of pub and brewery firm The Liberation Group is to step down.
The Jersey-based parent company of West Country beer and hospitality brand Butcombe said Richard Grainger would leave the business in the summer, after seven “successful” years in the role.
Liberation, which oversees an estate of almost 140 pubs stretching from the Channel Islands to London, said Mr Grainger had led the group through a period of “significant growth”, including its recent combination deal with Cirrus Inns.
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Mr Grainger said “the time now feels right” for the business, which is backed by investment firm Caledonia, to bring in a chair of the board, adding: “It has been an immense pleasure to Chair such a vibrant and exciting business and I have thoroughly enjoyed working with the Board, Jonathan and the rest of the executive team.
“We have successfully come through the challenges posed by the pandemic as a fitter, stronger and larger business and placed ourselves in the best position possible to be one of the winners in this sector.
Chief executive Jonathan Lawson said: “I would like to personally thank Richard for his guidance and counsel over the last four and a half years which has always been appreciated and valued. He leaves us in a strong position to progress and achieve our ambitions as a business and team.”
Tom Leader, head of Caledonia Private Capital added: “On behalf of Caledonia I would like to thank Richard, for his calm and assured leadership since we acquired the group in 2016, including the appointment of Jonathan as CEO in 2019 and steering the business through the immensely challenging years of the pandemic. We look forward to the next few years with significant optimism and Richard’s work has ensured that his successor starts in a very positive position.”
Liberation recently reported an “encouraging” start to its latest financial year, with the impact of the energy crisis and inflation on its finances “beginning to calm”.
Bosses said average earnings before interest, taxes, depreciation, and amortisation at the firm’s 58 tenanted venues was almost £95,000 per pub during the full year to January - up from pre-pandemic levels of around £90,000.
The company added that volume levels for its brewing business were also rising, up by more than fifth during its last full-year, with one of its signature drops Butcombe Original now a top 10 UK cask ale, and number two in the South West.
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