About Us
Our vision is to become the UK’s highest quality, most trusted and best value leased pub company.
Punch Taverns is already one of the UK’s largest leased pub companies, with a portfolio of over 4,000 pubs nationwide. Our business model is based on offering the enterprising individuals who run our pubs – our Partners – a flexible split on their pub rental and the beer they purchase from us. There is a slightly higher risk if they opt for a higher rent but lower beer prices or the risk is lowered if they choose a lower fixed rent but higher beer costs.
A significant area of company activity is therefore to focus on finding the right Partners to run our pubs, and we have a dedicated recruitment website: www.punchtaverns.com. This is backed by a comprehensive business support operation, which includes an annual £40 million investment programme, huge choice on brands and a whole host of business building goods and services including everything from planning and procurement, to marketing and logistics.
Over 3200 Partners are now regularly ordering through the Punch Buying Club – our innovative online ordering portal which aims to save our Partners time and money. We now pass on over £7 million worth of savings through the Buying Club.
The Punch Taverns business model is based on our aim to deliver the best standards of service to our Partners, working closely with them to earn their trust and to help them build quality pub businesses. To read what our Partners say about us, click here.
To find out more about our UK-wide pub portfolio, click here.
In 2013, Punch was a finalist in the prestigious Publican Morning Advertiser’s ‘Pub Company of the Year’ category. Click here to read our award submission.
To find out more about the market in which we operate, click here.
Our Approach
We want Punch Taverns to be the first choice for anyone considering running their own leased pub business. This means continuing to develop a market-leading range of flexible partnership options across a strong, nationwide portfolio of high quality pub premises. Our dedicated recruitment website: www.punchtaverns.com makes it easy for potential Partners to find out more and choose the right type of pub and partnership agreement.
Flexibility and innovation are central to our approach, which recognises that every British pub is a uniquely individual enterprise. Our Partners operate the pubs as their own businesses, in their own way, catering to their own local market. We support them with best practice, advice and services as well as supplying the best value products that will appeal to their customers.
From our nationwide perspective, we are able to identify trends and opportunities in drinking, dining and entertainment. We employ dedicated experts in leisure, hospitality, food and catering – giving our Partners access to the best advice and proven offers. We help them to run successful pubs with the potential to deliver a good, sustainable return for them, and for us.
We were the first major pub company to introduce a BIIBAS (British Institute of Innkeeping Benchmarking and Accreditation Services) accredited Code of Practice that outlines our ways of working. This goes beyond the requirements of the industry standard BBPA framework code, and sets out clearly the commitments and responsibilities of both Punch Taverns and our Partners.
Version five of the Punch Taverns Code of Practice was accredited in June 2013, following updates to the Industry Framework code earlier in the year. Punch Taverns were the first Pub Company to have their code re-accredited.
You can read our Code of Practice in pdf format. For further information on the industry framework code, visit www.beerandpub.com.
Our Strategy
Our vision: To become the UK’s highest quality, most trusted and best value leased pub company.
Our strategy for achieving this is based on three key areas: People, Property and Punch Support.
People
We are a people business and are absolutely committed to building strong, trusted relationships with our Partners. They, along with our shareholders, need to be confident that they are dealing with a well-established company with substantial experience. Punch Taverns was founded in 1997, and has grown into one of the largest leased pub companies in the UK through a combination of strategic pub estate acquisition and the development of effective supply chains. We are committed to continually improving the standards of service and support provided to our Partners. We live by our Code of Practice and strive to be clear, fair and transparent in all our dealings.
We are aware that to build sustainable, profitable pub businesses, we need to offer great value to our Partners. We do this through our terms of business, innovative partnership agreements and realistic rent levels that support the pub business and deliver a return to Punch. We provide a range of opportunities so that our enterprising Partners can achieve their individual business goals and we offer a choice of flexible partnership agreements.
Property
Over 60% of our estate has now received meaningful investment over the last five years. We have committed to invest some £45 million per annum improving our core estate of around 3,000 quality pubs that are well-positioned to outperform the market. We have established a network of New Business Development Managers dedicated to ensuring that our newly invested pubs get off to the very best start. We maintain a wide range of pubs in our portfolio, ranging from town centre bars, to local village pubs, to destination food pubs.
Click here to read more about our pub portfolio.
Punch Support
We remain committed to offering our Partners the best possible support. Our size enables us to take advantage of strong procurement and volume purchasing arrangements and, using our market leverage, we have secured industry-leading agreements on a range of added value services for our Partners, including free WiFi. We also invest in expertise, setting professional standards in business support and training, with a wide range of Partner support teams.
We are also committed to offering a good choice of beers, food offers, machines and other products that enable each Partner to develop a unique offer that will attract customers.
Click here to read more about the support we provide to our Partners.
Our Pubs
With over 4,200 quality pubs in our portfolio, we have the experience to ensure each pub delivers the right offer for its location, customers and competition.
We group our pubs into three categories based on their location, target market and proximity to customers. Each category is then segmented into Value, Mainstream and Premium propositions. This market-focused approach helps our Partners select the right opportunity and develop a successful food and drink offer.
Community Pubs
Community Pubs form the backbone of our estate. They are local pubs, situated in towns, suburbs and villages, providing a relaxed and friendly atmosphere for people living in the neighbourhood. They are often a hub for community events, other businesses and interest groups, accommodating a diverse range of customers.
High Street Pubs
Punch High Street Pubs reflect the busy bustling activity outside their doors with an offer that changes through the day to meet the needs of different customers. By day it might provide breakfast, coffee, a shopper’s quick lunch or chilled glass of wine. By night, it becomes a town centre bar, for local workers and residents.
Destination Pubs
Usually out of town, our Destination Pubs provide an occasion worth travelling for. The majority are known for their food offer, whether that’s value meals, traditional Sunday roast, or fine dining. The drinks selection and an appropriate pub environment are equally important, and many Destination Pubs also rely on some local trade.
For more information on the range of pubs within our portfolio click here to visit our recruitment website.
Our Market
The UK pub industry faces a number of challenges due to changes in demographics, legislation, consumer behaviour and the wider economic climate. However, our market remains a major contributor to the local and regional economy, and there are exciting opportunities available.
Latest figures (2012) indicate that the total value of all eating and drinking out in the UK is £70bn per annum. Of this, the leased pub market has a share of approximately £19bn, or 28%.
There are around 50,000 pubs in the UK. Some 8,000 of these are ‘managed pubs’ – run on behalf of the owner by a salaried manager. Around half of all pubs in the UK are run by individuals running their own businesses in a leased pub, with a contract to buy certain beers or other products from the pub company. Punch Taverns owns over 4,000 pubs that operate in this way. The remainder of the UK’s pubs are ‘freehouses’, independently owned and free to retail any products.
Whilst there has been a contraction in the overall pub market over the last few years, with increased numbers of pub closures, the majority of these closures have been drinks-led establishments operating without a food offer. This is also potentially attributable to changing consumer behaviour, relative price positioning versus the off-trade, and the impact of regulation. However, the decline in drinking out is somewhat offset by growth in eating out, and we believe this long-term shift from drinks-focused hospitality to a more food and entertainment-oriented offer represents a sustainable future for the pub business.
At Punch, we are committed to a strategic focus on pubs with the potential to anticipate and meet local demand. We are investing in upgrading pubs to provide a higher quality experience with an extended, targeted food offer, and we offer a huge range of support to our Partners to give them the best possible opportunity to succeed in this challenging market.
Click here to read more about the support we offer to our Partners.
Our History
The company was first established in 1997 when the original Punch Taverns portfolio was acquired from the Bass Lease Company.
Here is our history timeline with the most recent dates first:
- August 2011
- Spirit Pub Company PLC demerged from Punch Taverns PLC and began trading on the London Stock Exchange.
- July 2011
- In March 2011, Punch announced its intention to demerge the managed business to create two separate listed public companies: Punch Taverns Plc and Spirit Pub Company Plc.
- April 2007
- We disposed of 869 non-core pubs to Admiral Taverns following a strategic review of the estate.
- April 2007
- We became 50 percent owners of Matthew Clark – a leading international producer and marketeer of beverage alcohol brands.
- January 2006
- We acquired Spirit Group, an estate of 1,829 managed pubs.
- August 2005
- We acquired Avebury Holdings Limited, an estate of over 409 pubs.
- September 2004
- We announced the acquisition of the Innspired Group, an estate of 1,064 pubs.
- June 2004
- Punch launched a new corporate identity, and globally adopted the name Punch Taverns.
- November 2003
- We announced a deal to buy Pubmaster, 3,115 leased and tenanted pubs.
- May 2002
- We listed on the Stock Exchange as Punch Taverns plc.
- March 2002
- Spirit Group Holdings, a holding company for the managed pubs business operating 1,040 pubs, was demerged.
- During 2000
- The estate was integrated trading as Punch Pub Company.
- September 1999
- Our business was enlarged by the two acquisitions of Inn Business Group plc and the Vanguard estate from Allied Domecq plc.
- 1997
- The company was established when the original Punch Taverns portfolio was acquired from the Bass Lease Company.
Working In Partnership
No two pubs are the same, and no two Partners have the same requirements. Punch Taverns offers a range of industry-leading partnership options, allowing our Partners to choose terms that suit their business plans and the type of pub they want to run.
For example, Partners can take a shorter term tenancy, invest in an innovative ‘Punch Foundation Tenancy’ option, or choose a Punch Buying Club lease agreement, which links the rent agreed for a pub to the price our Partner pays for tied products. There are additional volume discounts available, and our Partners can choose to be free-of-tie on wines, spirits, soft drinks and machines. We even offer a choice of real ales from small, local breweries.
Like our Partners, we operate in a competitive environment. The Punch Buying Club offers all the advantages of our volume purchasing power, delivering good value and one-stop, 24-hour, online ordering for our Partners. The site offers exclusive deals and ‘green’ online accounting, as well as a community forum where our Partners can share best practice.
We also have close links with CAMRA and SIBA and are constantly working to expand the range of beers available through our Finest Cask scheme. We can also supply a range of marketing and promotional support for cask ales, including Beer Festival kits.
Good Relationships are crucial to our business model. Each of our Partnership Development Managers has responsibility for around 45 pubs and provides a personal point of contact with our Partners. From the moment someone enquires about running a Punch pub, we will work with them to develop a robust business plan and ensure that, from day one, they are set up for success. We provide a range of ongoing training courses, and introduce our Partners to Pubwise, an independent, nationwide panel of accountancy and stocktaking suppliers, vetted by us to ensure they are experienced licensed trade experts.
Punch Roadshows are specifically designed to help our Partners develop their competitive edge. We review new products, trade ideas and offer impartial advice. In 2013, over 2,400 Partners attended 10 nationwide events, with 92% recommending the Roadshows. We also host Spring Fairs, smaller scale events held in pubs and designed to help Partners reach local suppliers ahead of the busiest trading period.
Feedback is essential and we seek our Partners’ opinions through regular meetings, online surveys, and the Buying Club forum as well as events. Dissatisfied Partners can complain to us directly or escalate their concerns to the BII (who monitor compliance with our Code of Practice). In the latest Roadshow survey, 68% of Partners rated Punch support as ‘good’ or ‘great’, and we continue to improve the service provided to Partners via our dedicated support teams, training and development initiatives, as well as our regional launch managers, mystery shopper scheme and added value services such as free WiFi. For more detail on how we support our Partners, visit our recruitment website: www.punchtaverns.com
Partner Training and Development forms an integral part of the support package. As part of our commitment to give Partners the best chance of running a successful and profitable pub business, we offer an all-encompassing programme of training and ongoing professional development. We believe that our flexible programme is the most comprehensive in the industry, and is continuously updated to reflect best practice and changing regulations. Most importantly, training is tailored to suit our Partner’s individual needs and those of their team. It covers everything they need before they take on their pub (The Foundation Week), as they open for business and throughout their ongoing partnership with Punch.
Punch has also partnered with hospitality industry training provider, Charnwood Training Group, to deliver the BIIAB Apprenticeships in Licensed Hospitality. This is a nationally recognised Apprenticeship which enables pub employees to develop the skills, knowledge and understanding required to build careers in the licensed trade. Click here to visit our recruitment website for more detail on Training and Development for Partners and their teams.
Senior Management Team
Chief Operating Officer: Neil Griffiths, 53
Neil Griffiths, 53, was appointed Chief Operating Officer of Punch Taverns with effect from February 2013. Neil has responsibility for the strategic direction of the operational, recruitment, property and development functions of the group Neil joined Punch Taverns in 2001 and was responsible for building the Group’s industry leading transactional team. Neil previously had operational responsibility for the Turnaround Division, recruitment and the strategic development of the estate, maximising profitability through investment, acquisition, disposal, rental growth and alternative use development. Neil was previously with Warner Brothers where he was International Property Director responsible for pan European multiplex cinema development. Prior to that, Neil held senior positions with Bass plc including Head of Property for Bass Plc and a board member of Bass Leisure Entertainments as Commercial Development Director.
Operations Director: Giles Kendall, 56
Giles, 56, joined Punch in 2004 following the acquisition of Pubmaster, as a Regional Operations Director and is now Operations Director for 1500 Core Estate pubs in the South responsible for delivering sustainable sales and profit growth. He has been fully involved in the ongoing change programme, putting our pub partners at the centre of everything we do which has been helped by his previous experience of running his own small company and understanding first hand the challenges this involves. Giles started his career with Allied Domecq as a graduate and worked in a range of field and office based roles during his 19 years with the group. He held a number of senior positions including Marketing Director for Ansells in the Midlands and his final role as national Managing Director for 700 unbranded managed houses for Allied Domecq Leisure. He left to set up and ran his own “grab & go” stores in London based on the Pret a Manger offer but with a healthier twist, selling up in 2001 and returning to the pub sector with Pubmaster.
Operations Director: David Wigham, 45
David, 45, joined Punch in 2009 in the role of Regional Operations Director. He is now Operations Director for the North responsible for 1500 pubs in Punch’s Core Estate. He has played an influential part in the much publicised strategic and cultural change programme at Punch. As a member of the Punch Taverns PLC Operating Board he is now responsible for developing the Core Estate to achieve sustainable profit growth for Punch and its Partners. David started his early career qualifying in Corporate and Retail banking with Barclays PLC where he spent 15 years before leaving as Head of Small Business to join Bass PLC in 2000 which subsequently became Molson Coors. He held a number of senior positions there including National Accounts Director for the On and Off Trade, Customer Marketing Director and most recently Brand Portfolio Activation Director responsible for planning and implementation of the brand development programme.
Operations Director: Paul Pavli, 48
Paul, 48 joined Punch in 2005 as a Business Relationship Manager and has held a number of senior roles within the company and is now Operations Director for the New Business Division, with responsibility for all new business Partners in those critical first few months. Paul started his hospitality career in 1986 and went on to run a small restaurant group in London with a number of high profile sites, in both the independent and franchised sectors, before moving into pubs with Whitbread PLC (Beefeater Restaurants) and then completing a stint at JD Wetherspoons PLC before joining Punch Taverns.
External Affairs and Central Operations Director: Andy Slee, 49
Andy, 49, joined Punch in 2010 in the role of Buying Club Director. His remit has extended to include Punch’s Central Operations teams including Marketing, Partner Relations, Contact Centre, Punch Buying Club.com, external PR and most recently external affairs - including liaising with government ministers on the ongoing issue of the beer tie and other legislation affecting the industry. Andy has been instrumental in the creation of the Punch Buying Club - an industry first eBusiness platform, which has enabled Punch Partners to place their orders online and has transformed Punch’s relationship with them. Andy spent his previous career in and around the pub sector with Bass and Coca Cola Enterprises. Prior to Punch, his last role for CCE was as Commercial Director for their on premise business.
Commercial Director: John Healy, 57
John, 57, joined Punch in 2004 in the role of Director of Contracts and Purchasing and is now the Commercial Director with responsibility for Procurement, Distribution, Food Development and Gaming. He has been a key contributor to the growth of the Punch Taverns Group through numerous acquisitions and became Group Purchasing Director when Punch acquired the Spirit busines. With the creation of the Joint venture for the Matthew Clark business John was appointed to the Matthew Clark Holding Company Board. He is also a Director of Punch Taverns (Services) Limited and a Board trustee for the Pubmaster pension scheme. As a member of the Punch Taverns PLC Operating Board he is part of the management team responsible for developing the Core Estate to achieve sustainable profit growth for both Punch and its Partners. John started his career within the licensed trade and has worked within the industry almost continually except for 2 years at RHM during the late 1980s. He spent 12 years in a variety of roles within the Greenall’s Group, followed by a period at Nomura during its ownership of the Inn Partnership business and then joined Pubmaster prior to Punch acquiring the business.
HR Director: Jackie Burn, 44
Jackie Burn, 44, joined Punch in 2005 in and was appointed as HR Director in 2011. Whilst Jackie started her career in financial services, she has more than 15 years experience in the licensed trade sector and has held roles within both managed and leased pub businesses. She is responsible for the overall HR strategy within Punch, including employee engagement, reward, learning and development and internal communication. She is the Chair of Punch Community Promise; the company's volunteer and charitable programme and is also a Trustee for both Homestart (a charity supporting young families) and the Burton Breweries Charitable Trust. Jackie is married with 3 children and in her spare time enjoys spending time with her family and socialising with friends.
IT Director: Kevin Dalley, 49
Kevin, 49, joined Punch in 2006 as a senior manager in the IT team. During his time at Punch, he has held a variety of roles, including Head of Strategy and Head of Business Change (where he had overall programme management responsibility for ‘Pathway to Partnership’). As a member of the Punch Operating Board, he is now responsible for the IT systems at Punch as well as the ongoing business change programme. Prior to Punch, Kevin spent 17 years at Boots plc and its subsidiary Boots Healthcare International, in a variety of business change roles within IT, Logistics and Finance.
Company Secretary: Ed Bashforth, 40
Ed, 40, is responsible as Company Secretary for ensuring that the Company meets all its legal and regulatory requirements as a plc. Ed is a fellow of the Institute of Chartered Accountants of England & Wales and is also the Group Treasurer. Prior to joining Punch Taverns in early 2007, Ed worked in the Hospitality & Leisure Transaction Advisory Services team for Ernst & Young LLP.
Board of Directors
Executive Chairman: Stephen Billingham, 56
Stephen Billingham, 56 became Executive Chairman at Punch Taverns in January 2013. Stephen joined Punch Taverns as Non-executive Chairman in September 2011. He was Finance Director of British Energy Group plc, from 2004 to 2009, playing an instrumental role in delivering the turnaround and strong performance of the business, its relisting in 2005, its move up to the FTSE 100 and the sale to EDF in 2009 for £12.5bn. Prior to this, Stephen was Group Finance Director of WS Atkins plc during its successful financial recovery, as well as Group Treasurer of BICC plc (now Balfour Beatty plc) and Severn Trent plc. Stephen is currently a Government appointed Non-Executive Director and Chairman of the Audit Committee of URENCO.
Finance Director: Steve Dando, 42
Steve Dando, 42, joined Punch Taverns in 2003 as Chief Accountant and was promoted to Group Financial Controller in 2009 and Finance Director in July 2011. During his time with Punch, Steve has played a major role in the development of the group and has a wealth of experience, previously holding a number of senior finance roles with Courtaulds Plc. Steve is a member of the Institute of Chartered Accountants of England & Wales and started his career at Price Waterhouse Coopers.
Senior Independent Director: Angus Porter, 56
Angus Porter is the Senior Independent Director and also chairman of the Remuneration Committee. Angus Porter, aged 56, was appointed as Senior Independent Director and chairman of the Remuneration Committee in April 2012. He is currently the CEO of the Professional Cricketers' Association, and a Non-Executive Director of Direct Wines Limited and TDC. In his career to date, Angus has been a Non-Executive Director of MyTravel Group, Alliance and Leicester, and Thomas Cook, and has held senior Executive positions at Mars, British Telecom, Abbey National and WPP.
Non-Executive Director: John Allkins, 64
John Allkins, aged 64, joined the Board as a Non-Executive Director on 25 October 2012 and is the Chairman of the Audit and Risk Committee. John is also a Non-Executive Director of Renold plc, Fairpoint Group plc, Linpac Senior Holdings Limited and Albemarle & Bond Holdings plc and has been a Non-Executive Director of Intec Telecom Systems plc and Molins plc. John was previously Group Finance Director of MyTravel Group plc and Chief Financial Officer of Equant NV, prior to which he held a number of finance director roles within British Telecom.
Non-Executive Director: Ian Dyson, 52
Ian Dyson, 52, joined Punch Taverns as CEO in September 2010. Following the demerger of Spirit in August 2011, Ian was appointed Chief Executive Officer of Spirit Pub Company and became a Non-executive Director of Punch Taverns. Ian was previously with Marks and Spencer plc where he was Group Finance and Operations Director and prior to that Group Finance Director. He also held roles as Finance Director of The Rank Group plc and Financial Controller of Hilton Group plc. Ian is also a Non-executive Director of Betfair Limited.
