Hawthorn, a community pub company, has announced its intentions to list on the London stock exchange as a standalone quoted business.
NewRiver REIT, Hawthorn’s owner, claimed that the group’s IPO decision will follow a strategic review that would see the pub group launched as a separate company.
Led by Mark Davies, CEO at 700-strong pub group, the move would mark the return of a tenanted and leased pub company to the London market.
Davies said that it is “the right time to be exploring the IPO opportunity” that would represent “the next phase in the development” of Hawthorns.
He added: “NewRiver is, and has been, a strong custodian of this business, helping to build one of the UK’s leading community pub companies, and enabling us in the past 12 months to provide industry-leading support to our pub partners and operators.
“After building this business over the course of eight years, the NewRiver board has concluded that Hawthorn can grow faster as an independent company and continue to drive towards our shared ambition of making Hawthorn the number-one community pub company in the UK.”
Of the group’s estate, 60% is said to have reopened alongside the easing of restrictions on outdoor hospitality, with the remaining pubs set to open when indoor trading is permitted.
During the continued closures, the group has provided £8m to support pub partners and operators.
Davies added: “In many ways nothing will change and it is business as usual, and our focus will continue to be on building the very best community pub company, with industry-leading support and a people-first approach.”