Bass to change name to reflect new direction
UK brewing group Bass has said it will change its name to reflect its new business direction as a pubs and leisure chain after the sale of its brewing arm to Belgian giant Interbrew.
LONDON (Brand Republic) – UK brewing group Bass has said it will change its name to reflect its new business direction as a pubs and leisure chain after the sale of its brewing arm to Belgian giant Interbrew.
The company sold its brewing business for £2.3bn to Interbrew in August, in a bid to capitalise on its higher margin pubs and hotels, which includes the Holiday Inn, All Bar One and Crowne Plaza brands.
Chairman Ian Prosser said once the sale is complete, following a Competition Commission, the group will rebrand itself.
Operating profits from Bass’ continuing operations were up 24.8% to £776m in the year to September 30. Turnover was £3.8bn, up 22% on last year’s figure.
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