 |
|
| Fate | Merged with Guinness plc |
|---|---|
| Successor | Diageo |
| Founded | 1934 |
| Defunct | 1997 |
| Headquarters | London, UK |
| Key people | Sir Stanley Grinstead (Chairman) Alan Sheppard (CEO) |
| Industry | Hotels Holiday centres Entertainment centres Public houses Casinos |
| Employees | 115,000 |
Grand Metropolitan plc is a former United Kingdom-based company operating hotels, holiday centres, entertainment centres, public houses and casinos. The company was listed on the London Stock Exchange and was a constituent of the FTSE 100 Index until it merged with Guinness plc to form Diageo in 1997.
Contents |
History
The business was incorporated in 1934 as MRMA Ltd and was first listed on the London Stock Exchange in 1961.[1] It changed its name to Grand Metropolitan Hotels Ltd in 1962.[1]
It diversified into catering acquiring Bateman Catering in 1967[1] and then Midland Catering in 1968.[1] It then bought Express Dairies in 1969[2] and Berni Inns[2] and Mecca in 1970.[1]
Next came its move into brewing in 1972 as it bought Trueman, Hanbury & Buxton and Watney Mann including the latter's subsidiary International Distillers & Vintners[1] (which owned the Smirnoff vodka, J&B whisky, Bailey's Irish Cream, Gilbey's gin, Piat wine and Croft sherry and port brands). It changed its name to Grand Metropolitan in 1973.[1]
In 1980 it bought Liggett Group, a US tobacco and drinks business.[1] In 1981 it bought Warner Holidays and Intercontinental Hotels Corporation.[1]
In 1986 the Company sold the Liggett Group to Bennett S. LeBow.[3]
It acquired Heublein wines and spirits in 1987.[4] Also in 1987 the Company withdrew from catering when it disposed of its catering division by way of a management buyout so creating Compass Group.[5]
In 1988, having sold Intercontinental Hotels to Japanese based Saison Group, it expanded its core betting operations by buying William Hill.[6] It also entered the fast food industry by buying the Pillsbury Company and with it the Burger King chain in 1988.[7] It also bought the Wimpy Bar chain that year and merged it with Burger King.[8] It continued to sell non-core business, including in 1991 the brewers
Merger
The Company merged with Guinness plc in 1997 to form Diageo.[10]
References
- ^ a b c d e f g h i Competition Commission Report 1983
- ^ a b Competition Commission Report 1990
- ^ Liggett Vector Brands
- ^ Grand Metropolitan to buy Nabisco's Heublein New York Times, 17 January 1987
- ^ Caterersearch
- ^ William Hill: History
- ^ U.S. Investors Agree to Buy Burger King From Diageo for $2.26 Billion New York Times, 26 July 2002
- ^ Grand Metropolitan to buy Fast Food Chain New York Times, 8 August 1989
- ^ Ushers goes private with Fresh Venture Capital bid The Independent, 22 December 1998
- ^ Spirits soar at Diageo Food & Drug Packaging, July 2005
Further reading
- Reader, W.J., Grand Metropolitan: A History 1962-1987, Oxford University Press, ISBN 9780198229766
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