CAMRA's Chairman has reacted to the acquisition of Punch Pubs & Co by Fortress Investment Group.
Nik Antona said, “CAMRA is very wary about an investment company taking over a business running so many pubs up and down the country. While Punch was already owned by a global business, we continue to be concerned of the dominance of global companies and brewers in the UK beer and pub market.
“One company controlling a large share of the market rarely brings benefits for licensees or consumers, but nevertheless we hope that the new owners will commit to retaining the pub portfolio.
“Publicans and local communities will want rapid assurances from this new owner that they are committed to the future of these pubs rather than asset stripping, and that these venues will be given a fair chance to thrive under new ownership.'
Antona concluded, “As we continue to recover from the pandemic, it is more important than ever that we protect the mental health and wellbeing benefits that local pubs provide to their customers and communities.”