United Kingdom: CAMRA demands assurances from Wolves on the future of Jennings
Consumer group, the Campaign for Real Ale (CAMRA), announced on May 20 it has responded to the acquisition of Jennings Brothers PLC by Wolverhampton & Dudley Breweries PLC with a call for W&DB to come clean about their expansion plans. CAMRA is seeking more detailed assurances on the future of the Jennings brewery, beer brands and pub estate.
John Holland, CAMRA’s Director of Breweries Campaigning said, "W&DB has secured 82.46% of Jennings, but it is clear that a substantial minority of small shareholders are unhappy with the takeover and have supported CAMRA’s campaign to keep Jennings independent."
CAMRA is set to present W&DB with a petition containing over 5,000 signatures from beer drinkers who want Jennings to remain independent and has called for a meeting with W&DB to seek assurances on the future of Jennings as a vertically integrated business.
Mike Benner, CAMRA’s Chief Executive, said, "A clear message has been sent to W&DB, that while their acquisition of Jennings has been successful, they are now faced with the challenge of convincing the people of Cumbria, smaller shareholders and beer drinkers that they are committed to the future of Jennings as a thriving regional brewery."
Mr Benner added, "We have several concerns which need to be addressed. What are W&DB’s future acquisition plans? Experience shows us that takeovers often lead to brewery closures and loss of beer brands, which in turn reduces consumer choice and competition. If W&DB acquires more brewing capacity, a downturn in market conditions would force them to reduce capacity which could lead to the closure of Jennings brewery. CAMRA will not sit back and allow this to happen."
"We would like to thank the people of Cumbria and Jennings shareholders who have supported our campaign to keep Jennings independent. An 18% shortfall in acceptances of the W&DB offer strongly suggests widespread concern about W&DB’s plans and this must be disappointing to W&DB."
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