Press releases | Corporate and M&A, Tax | 06 Jul 2016

Caledonia Investments plc acquires the Liberation Group

Overview

Travers Smith LLP has advised the management team of the Liberation Group Limited, the Channel Islands' market-leading pub, restaurant and drinks business, on its acquisition by Caledonia Investments plc, a transaction which values Liberation at circa £118m.

Liberation is currently owned by LGV Capital, part of Legal & General Capital, the principal investment arm of Legal & General Group and operates 94 predominantly freehold pubs in the Channel Islands and south west of England. It also owns two breweries, Liberation Brewery (Channel Islands) and Butcombe Brewery (mainland UK), and three drinks distribution businesses (two in the Channel Islands and one in mainland UK).

The Travers Smith team was led by corporate partner Adam Orr with support from associate Katie McGarry. Specialist tax advice was provided by tax partner Kathleen Russ and associate Silvana Van Der Velde.

Caledonia was advised by Macfarlanes and that LGV was advised by CMS