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Mitchells & Butlers acquires Orchid Group for 266 mln stg

Reuters - UK Focus

LONDON, June 16 (Reuters) - Pub group Mitchells & Butlers (LSE: MAB.L - news) said on Monday it acquired rival operator Orchid Group for 266 million pounds in cash, in a deal which it expects to lead to a double digit boost to earnings.

The company, which operates pubs such as All Bar One, said last month it was in exclusive talks to buy the majority of the activities of Orchid.

Mitchells & Butlers is buying 173 Orchid pubs in a deal which will provide cost savings and annual synergies of at least 6 million pounds. (Reporting by Sarah Young; editing by Kate Holton)