Youngs sells 53 pubs to Punch. Pubs as real estate..
Youngs was once a brewer in Wandsworth-indeed I had the dubious pleasure of meeting John Young on several occasions. It was described by CAMRA back in the day as the brewery that stood against the keg tide in London in the 1970s.
Indeed it did and thankful for it we were. A pint of Youngs Ordinary or Winter Warmer was something to look forward to.
Youngs haven’t been a brewer for a while now though- having sold that side of the business to Wells in Bedford-now owned by Carlsberg via Marstons.
That left the Youngs pub estate. They have now confirmed the previously announced sale of 53 tenanted pubs to Punch. They will retain pubs where they have direct control which are more profitable.
Given the last year it is perhaps an understandable move although not likely to be great news for either tenants or pub workers impacted (but who cares about them one wonders?)
Punch are still a pub group but in fact quite a few pubs were sold to Heineken and they are owned by a real estate company. One might conclude that the pubs which were thought to be ‘viable’ went to the Dutch brewer to sell their beer in. The others including the ex-Youngs pubs might well end up as more profitable private residences..
Fortunately its not automatic. CAMRA is still with us and there are campaigning and legal avenues to make sure that pubs stay as pubs. There is more to the pub than just the financial bottom line although obviously in a market economy that can’t be ignored.
https://www.standard.co.uk/business/youngs-sells-most-tenanted-pubs-punch-53-million-b945281.html
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