Caledonia Investments has agreed to acquire The Liberation Group, the Channel Islands' market leading pub and drinks business with 94 mostly tenanted sites, currently owned by LGV, for £118m.
Caledonia's longer term partnership model will help Liberation continue to build its business through a combination of enhanced organic growth and acquisitions of single and pub groups in the south of England.
The Liberation Group's defensive, enduring business model, which delivers strong cash generation and dividend yield, fits ideally with the investment criteria sought by Caledonia for its unquoted portfolio.
Completion is subject to the approval of The Channel Islands Competition and Regulatory Authorities.