Breare in for brewer

Botts & Co-backed Noble House makes an offer for Wolverhampton & Dudley Breweries.

Robert Breare’s Noble House Group has made an offer of 500p a share for Wolverhampton & Dudley Breweries (W&D).

The offer values the beer and pubs group at £472m.

W&D’s shares have risen 22.5p, or 4.9 per cent to 481p, giving the company a market cap of £454.1m.

Noble House, backed by private equity firm Botts & Co, has faced competition for W&D from privately-owned Pubmaster for the last eight months.

Noble House is being advised by CSFB.