WHITBREAD has taken another step in its restructuring after the Beefeater and Brewers Fayre owner unveiled the sale of a German steakhouse chain.
The Maredo restaurant business consisting of 58 sites and 1,880 staff is to be bought by a European private equity consortium for £24.2 million.
The sale by Whitbread, which brought the 30-year-old business in 1994, is part of a plan announced in October to sell non-core assets and reshape itself around three sectors of the leisure market where it has leading positions budget hotels, restaurants and health and fitness clubs.
As part of the changes, Whitbread said in March that it was giving up control of its Marriott UK hotels, including the Swindon site in Pipers Way, in a deal set to raise £1 billion over two years.
Whitbread and Marriott International, the US owner of the brand, will set up a joint venture to hold the luxury hotels until they are sold.
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