Yates's
{{Short description|English pub chain}}
{{Use dmy dates|date=October 2019}}
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{{More citations needed|date=August 2012}}
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{{Infobox company
| name = Yates
| logo = Yates's logo.svg
| caption =
| type = Subsidiary
| traded_as =
| fate =
| predecessor =
| successor =
| foundation = 1884
| founder = Peter and Simon Yates
| defunct =
| location_city = Porter Tun House, 500 Capability Green, Luton, Bedfordshire, LU1 3LS
| locations = 37
| area_served = UK
| key_people =
| industry = Hospitality
| products =
| services =
| revenue =
| operating_income =
| net_income =
| owner =
| num_employees =
| parent = Yates Group plc (1986–2004)
Laurel Pub Company (2004–11)
Stonegate Pub Company (2011–)
| divisions =
| subsid = Ha! Ha! Bar & Canteen (former)
| homepage = [http://www.weareyates.co.uk Yates]
| footnotes =
}}
Yates's ({{IPAc-en|'|j|eI|t|s|i|z}}) is an English pub chain. It was founded as Yates's Wine Lodge in Oldham, Lancashire, by Peter and Simon Yates in 1884.{{cite book|title=Bygone Oldham|author=Anon|publisher=True North Publishing|year=1996|isbn=1-900463-25-3}}
History
File:Yates wine lodge high street 1927.jpg
File:Yates's Wine Lodge, St James's Street, Burnley - geograph.org.uk - 759997.jpg]]
Yates is Britain's oldest pub chain.{{Cite book|title=The inns and alehouses of Stafford: Through the North Gate|last=Connor|first=John|publisher=Troubador Publishing Ltd|year=2014|isbn=9781783064250|location=Kibworth Beauchamp|pages=124|oclc=879400627}} Its motto was moderation is true temperance.{{Cite news |last=Thornber |first=Robin |date=Jun 13, 1977 |title=The turn of the cork screw |work=The Guardian |page=12 |id=Newspapers.com [https://theguardian.newspapers.com/image/259596873/?match=1&terms=%22Yates%27s%20Wine%20Lodges%22 259596873].}} Republished as: {{Cite web |date=13 Jun 2017 |title=More to Yates's Wine Lodges than just champagne on draught - archive, 1977 |url=https://www.theguardian.com/lifeandstyle/the-northerner/2017/jun/13/yates-wine-lodge-pub-1977 |archive-date= |access-date=August 26, 2022 |website=TheGuardian.com |department=From the Guardian archive; Pubs}} The founders, brothers Peter and Simon Yates were from Preston. Peter was sent to Spain to learn about wine. Simon went to the United States to learn about business methods.
Ownership
=Public company=
On 23 July 1994, Yates became a public company owned by the Yates Group PLC (Yates Brothers Wine Lodges PLC). The Yates Group also owned Ha! Ha! Bar & Canteen and operated pubs under the Blob Shop and Addison's name. In the late 1990s, its share price rose to reach a high of 550p in 1998.{{Cn|date=June 2024}}
In June 2001, the Yates Group entered takeover talks with Luminar Group. In July 2001, it withdrew from takeover talks and said it would instead sell off 25 of its pubs, later putting 18 of them up for sale. On 1 November 2001 the Yates Group sold eight pubs to Morrells for £4 million, with four being in Grantham, Slough, Solihull and Tunbridge Wells.{{Cn|date=June 2024}}
In October 2003, Yates sold its Aussie White fortified brand to Halewood International for £1 million.{{Cite web |date=30 Oct 2003 |orig-date=Last updated on 25-May-2017 at 21:39 GMT |title=Yates in £1m wine deal |url=https://www.morningadvertiser.co.uk/Article/2003/10/30/Yates-in-1m-wine-deal |website=The Morning Advertiser}}
=Management buyout=
In June 2004, when 30% of the company was owned by the Dickson and Yates family, the Yates Group had a management buyout offer (MBO) funded by GI Partners.{{Cite news |date=9 June 2004 |title=Yates agrees to management buyout |url=http://news.bbc.co.uk/2/hi/business/3789457.stm |work=BBC NEWS}} At the time, the company was valued at £98.4 million (140p a share) and employed 4,000 people. While GI Partners only received 16% of acceptances from shareholders (not the 90% it was looking for), the bid proceeded in October 2004.{{Cn|date=June 2024}}
=Takeover by Laurel Pub Company=
By 2005, the Yates Group had grown to 125 Yates pubs and 25 Ha! Ha! bars. In April 2005, the company was approached by the Tchenguiz-owned Laurel Pub Company and a £200-million merger was completed on 20 May 2005. A few weeks later, Laurel bought many of the sites belonging to the bankrupt SFI Group PLC, which owned Slug and Lettuce.{{Cn|date=June 2024}}
=Administration=
On 27 March 2008, Laurel was put into administration.{{Cite news |date=March 27, 2008 |others=Reporting by Chris Wills, Editing by Gary Hill |title=Laurel Pubs bought by Tchenguiz-backed companies |url=https://www.reuters.com/article/business/laurel-pubs-bought-by-tchenguiz-backed-companies-idUSL27404111/ |access-date=2025-04-11 |work=Reuters News |id=RF: {{small|
= Takeover by Stonegate Pub company =
In 2011 European private equity firm TDR capital announced the merger between pub companies Stonegate and Town & City.{{Cite web |last=Eversham |first=Emma |date=22 Jun 2011 |orig-date=Last updated on 12-Mar-2017 at 10:11 GMT |title=Stonegate and Town & City pub companies merge |url=https://www.restaurantonline.co.uk/Article/2011/06/23/Stonegate-and-Town-City-pub-companies-merge |access-date=2023-05-22 |website=Restaurant (Magazine) |publisher=William Reed Ltd |language=en-GB |publication-place=Crawley/London, England}}
Business
There are still more than 70 Yates pubs or bars in the UK, although there is no longer one in Oldham.{{Cite web |title=More about Yates's, your local bar restaurant / About Us |url=http://www.weareyates.co.uk/home/about-us |url-status=dead |archive-url=https://web.archive.org/web/20090917164026/http://www.weareyates.co.uk/home/about-us |archive-date=2009-09-17 |access-date=2009-10-02 |website=We are Yates’s |publisher=Town and City Pub Company Limited}} The site of the original Yates Wine Lodge is now a McDonald's{{Cite web |date=2005-06-19 |orig-date=Updated 20:10, 21 Jan 2013 |title=Yates' call time on brand name |url=http://www.manchestereveningnews.co.uk/news/local-news/yates-call-time-on-brand-name-1114444 |url-status=live |archive-url=https://web.archive.org/web/20160307034517/http://www.manchestereveningnews.co.uk/news/local-news/yates-call-time-on-brand-name-1114444 |archive-date=2016-03-07 |access-date=2022-01-13 |website=Manchester Evening News |language=en}} and is marked by a plaque on Oldham High Street. Some Yates have been converted to Slug and Lettuce pubs in recent years.{{Cn|date=June 2024}}
Yates Australian White continues to be made by Halewood International and is sold in 35-centilitre, 70-centilitre and 1.5-litre containers.{{Cite web |title=Brands |url=http://www.halewood-int.com/brands/ |url-status=dead |archive-url=https://web.archive.org/web/20151202075256/http://www.halewood-int.com/brands/ |archive-date=2015-12-02 |access-date=2015-12-06 |website=Halewood International}}
References
{{reflist}}
External links
- [https://web.archive.org/web/20210510065724/http://www.weareyates.co.uk/ Official website] (archived)
- {{Commons category-inline|Yates's Wine Lodge}}
{{UK Food}}
{{Authority control}}
Category:1884 establishments in the United Kingdom
Category:Companies based in Luton
Category:Companies based in Oldham
Category:Restaurants established in 1884
Category:Companies formerly listed on the London Stock Exchange