Monday, January 21, 2013
Blimey. London pub sells for £32 m
Was looking at that in July when I was stationed in Canary Wharf for the Olympics. There's three more pubs in the area, already boarded up, which are in the same class of value.
As always, because this is the nature of reporting like that, there's no mention of the tenure behind the story. This one is Fullers Friendly Family Brewer cashing in on the inheritance by selling off the family silver. Mind you thirty five years ago this was a dog end of an area.
Yes. What's important to note about this example is how ALL pubco's family brewers and pub owners are in it for the money not for the pubs, tradition or heritage or anything else they lie through their teeth saying that's why they are in the business.
Now then. When Fullers sell their brewery ... and move production to Tadcaster, it will be regarded as an obvious and sensible thing to do. Because every other brewer in Britain has done it already.
Small liberty with the truth but essentially the way it's going with most of the long established companies who ceased to be families and have turned into plc private equity driven corporates.
The reason there is innovation in the sector - small brewers making proper and very interesting craft beers and ales is a response to all of the above. There is a strong, and growing, demand for AUTHENTICITY among the population. Millions of people are becoming increasingly restless in the face of an onslaught of homogenisation, sameness and product conformity in the market, of everything, and of beers and pubs. This is why small pubco's are popping up all over the show too. But none of it is even scratching the surface of what needs to happen, which is much more agressive, scaled up and down home real pubs and beers for real people and a future economy that's barely on the horizon yet.