Panmure Liberum appointed as Joint Broker to Marston’s PLC

Founded in 1834 and headquartered in Wolverhampton, Marston’s is one of the UK’s leading local pub companies with a diverse community-based estate of over 1,300 pubs, bars and inns. The company’s operating model blends flexibility with local insight: 30% of its pubs are Managed, 58% run through Partnerships, and 12% are Tenanted. This mix allows Marston’s to tailor its offerings to evolving consumer expectations while maintaining strong community connections and operational agility.

Following a strategic joint venture with Carlsberg in 2020 and the full divestment of its brewing operations in 2024, Marston’s has transformed into a focused, pureplay hospitality business. Its estate - predominantly freehold - is valued at approximately £2.1 billion.

Panmure Liberum Team

ExCo – David Parsons

Investment Banking – Andrew Godber, Edward Thomas, Phoebe Bunce

Research – Anna Barnfather

Sales – Guy Froud, James Roberts

Trading – James Cass, Charlie Borman

IR – Marcio Remedios