Yates's

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Yates
TypeSubsidiary
IndustryHospitality
Founded1884
FounderPeter and Simon Yates
Headquarters
Porter Tun House, 500 Capability Green, Luton, Bedfordshire, LU1 3LS
Number of locations
37
Area served
UK
ParentYates Group plc (1986–2004)
Laurel Pub Company (2004–11)
Stonegate Pub Company (2011–)
SubsidiariesHa! Ha! Bar & Canteen (former)
WebsiteYates

Yates is a British pub chain, founded as Yates's Wine Lodge in Oldham, Lancashire, by Peter and Simon Yates in 1884.[1]

History

Yates Wine Lodge, High Street, in Oldham (1927)
Yates's, St James's Street, Burnley

Yates is Britain's oldest pub chain.[2] Its motto was moderation is true temperance.[3] Peter Yates (22 April 1854–1944), the founder, came from Preston. He was sent to Spain to learn about wine, and his brother went to the US to learn about business methods.

The first Yates Wine Lodge opened in Oldham in 1884.[2]

Ownership

Public company

It was owned by the Yates Group plc (Yates Brothers Wine Lodges plc) from 23 July 1994. Yates Group also owned Ha! Ha! Bar & Canteen. It also operated pubs under the Blob Shop and Addisons name. In the late 1990s its share price rose, it reached 550 p in 1998; its highest.

In June 2001, it entered takeover talks with Luminar Group. In July 2001 it withdrew from takeover talks and said it would sell off 25 of its pubs, later putting 18 up for sale. On 1 November 2001 it sold 8 pubs to Morrells for £4 million, with four being in Grantham, Slough, Solihull and Tunbridge Wells.

In October 2003, Yates sold its Aussie White fortified brand to Halewood International for £1 million.[4]

Management buyout

When 30% of the company was owned by the Dickson and Yates family, in June 2004 the company had a management buyout (MBO) offer funded by GI Partners.[5] The company was valued at £98.4 million at 140 p a share. The company employed 4,000 people. GI Partners only received 16% of acceptances from shareholders, not the 90% it was looking for, but the bid proceeded in October 2004.

Takeover by Laurel Pub Company

By 2005 the group had grown to 125 Yates's and 25 Ha! Ha! bars. In April 2005, the company was approached by the Tchenguiz-owned Laurel Pub Company and a £200 million merger was completed on 20 May 2005. A few weeks later, Laurel bought many of the sites belonging to the bankrupt SFI group who owned Slug and Lettuce.

Administration

On 27 March 2008, Laurel was put into administration.[6]

Business

There are still more than 70 Yates pubs or bars in the UK, although there is no longer one in Oldham.[7] The site of the original Yates's Wine Lodge is now a McDonald's[8] and is marked by a plaque on Oldham High Street. Some Yates have been converted to Slug and Lettuce pubs in recent years.


Yates's Aussie White continues to be made by Halewood International and is sold in 35-centilitre, 70-centilitre and 1.5-litre containers.[9]

References

  1. ^ Anon (1996). Bygone Oldham. True North Publishing. ISBN 1-900463-25-3.
  2. ^ a b Connor, John (2014). The inns and alehouses of Stafford: Through the North Gate. Kibworth Beauchamp: Troubador Publishing Ltd. p. 124. ISBN 9781783064250. OCLC 879400627.
  3. ^ "More to Yates's Wine Lodges than just champagne on draught". TheGuardian.com. 13 June 1977. Retrieved 26 August 2022.{{cite web}}: CS1 maint: url-status (link)
  4. ^ "Yates in £1m wine deal". morningadvertiser.co.uk.
  5. ^ "Yates agrees to management buyout". 9 June 2004 – via news.bbc.co.uk.
  6. ^ Laurel Pubs bought by Tchenguiz-backed companies Yahoo! Finance[dead link]
  7. ^ "More about Yates's, your local bar restaurant". Archived from the original on 17 September 2009. Retrieved 2 October 2009.
  8. ^ News, Manchester Evening (19 June 2005). "Yates' call time on brand name". Manchester Evening News. Retrieved 13 January 2022. {{cite web}}: |last= has generic name (help)
  9. ^ "Brands | Halewood International". Archived from the original on 2 December 2015. Retrieved 6 December 2015.

External links

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