Freshfields advises Fuller, Smith & Turner on the sale of its premium beer businessFreshfields Bruckhaus Deringer LLP (‘Freshfields’) is advising Fuller, Smith & Turner PLC (‘Fuller’s’), which operates pubs, hotels and a premium beer business, on the sale of its entire premium beer business to Asahi Europe Ltd (‘AEL’), a wholly owned subsidiary of Asahi Group Holdings, Ltd (‘Asahi’), for an enterprise value of £250m on a debt free, cash free basis.
The business being sold comprises the entirety of Fuller’s beer, cider and soft drinks brewing and production, wine wholesaling, as well as the distribution thereof, and also includes the Griffin Brewery, Cornish Orchards, Dark Star Brewing and Nectar Imports.
The Freshfields team was led by partners Claire Wills, David Sonter and David Brooks, with partners Peter Clements leading on tax advice, Vicky Hills leading on retail advice, Martin McElwee leading on antitrust advice, Kathleen Healy leading on employment advice, Charles Magoffin leading on pensions advice, and David Trott leading on financing advice.
Notes for editors
The Fuller’s press release can be viewed here for further details on the sale: https://www.fullers.co.uk/corporate/investors/regulatory-announcements/proposed-sale-of-the-fullers-beer-business-to-asahi-and-trading-update
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