Citigate replaces Maitland as Punch makes Allied bid

Private pub group Punch Taverns has hired Citigate Dewe Rogerson to replace the Maitland Consultancy as its financial PR agency as it bids for Allied Domecq’s pub and off-licence interests.

Private pub group Punch Taverns has hired Citigate Dewe Rogerson to

replace the Maitland Consultancy as its financial PR agency as it bids

for Allied Domecq’s pub and off-licence interests.



As of last week Maitland is no longer working on Punch’s bid for Allied

Domecq because of a conflict of interest after another of its clients,

Whitbread, made a formal pounds 2.3 billion bid for Allied Domecq.



’We are helping advise Punch chairman Hugh Osmond on their response to

Whitbread’s formal offer for Allied Domecq,’ said Andrew Cornelius, one

of two Citigate directors working on the account. The arrangement is

open ended.



Osmond has publicly stated that Punch is keen to make a rival bid,

believing the business to be worth in excess of what Whitbread has

offered. Whitbread has been a Maitland client for five years.



Allied Domecq’s financial PR is handled by Financial Dynamics. The

company’s pub and off-licence interests include the Firkin, Mr Q and Big

Steak brands.



Punch Taverns was set up at the end of 1997 with the pounds 563 million

buy-out of 1,470 tenanted pubs from Bass.



Maitland originally won a pitch to advise Punch on a possible flotation

which is currently on hold. Most recently Maitland advised Punch when

the Texas Pacific Group acquired 70 per cent of its shares.



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