Mark Davies steps down from Hawthorn as sale completes

The deal, which completed on Friday 20 August, sees Admiral acquire a portfolio of 674 pubs from Hawthorn for a overall cash consideration of £222.3m.

Davies said that running the business had been 'a great honour in my career'.

“In seven years, we have built a leading and well-respected community pub company with a high-quality management team, a best-in-class operating platform and industry-leading licensee satisfaction scores. This is a testament to my team, the culture that we have created, and the way we run our business,” he said.

Davies said Hawthorn’s ambition was to create the UK’s number one community pub operator, and the decision to explore an IPO alongside private sale was taken with the goal of securing the funding to help us grow and realise that objective.

“We were successful in receiving the strong support of the capital markets and a number of leading Private Equity firms, which is a testament to the high-quality business and team. In Admiral, we have found a culturally likeminded and supportive operator who will take this business forward.”

He will continue in his roles as a board member of the British Beer & Pub Association (BBPA), chairman of the BBPA finance committee and chairman of the WBPA until further notice.