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Mitchells & Butlers, owner of Toby Carvery, to raise £350m | Bradford Telegraph and Argus


The Armytage Arms, Brighouse
Piedmont, Elpida Group and Smoothfield have joined forced to create a new holding company, Odyzean, holding 55 per cent of the company.
The firms said the new company will help address “the significant capital needs of Mitchells & Butlers”.
Odyzean said it is fully supportive of the current management team but that it plans to review the current composition of the board of directors.
A spokesman said: “Without this major equity injection, the prospects for the business, its 1,600 venues, and over 40,000 UK employees would be bleak.
“Our significant financial commitment will help to secure the future of the business and provide a platform for the strong management team to restore the company’s operations to good health when circumstances allow.” ....

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