Wells & Co. Annual Review

Steady performance supports 5% EBITDA increase ahead of Wells & Co.’s 150th year

The 2025 annual accounts from Wells & Co. show a year of steady progress, with growth in the UK driving a 5% rise in group EBITDA (earnings) to £10.3 million, alongside a £0.4 million increase in sales to £66.2 million.

Group operating profit before exceptional costs increased 21% to £4.2m, up from £3.5m, driven by higher sales alongside a focus on operational cost control.

Performance across the company’s Managed House estate, made up of 26 sites in the UK and 19 in France, saw an overall turnover growth of 2%*. This reflects the strength and diversity of the division, particularly against the backdrop of rising employment costs in the UK, with increases in National Minimum Wage and employer National Insurance contributions adding approximately £800,000 to the cost base.

The group’s Pub Partner division, comprising 136 leased and tenanted sites across the northern home countries and East Anglia, delivered a fourth consecutive year of growth in a demanding trading environment. Turnover was up 4%, with the reopening of closed sites as well as the acquisition of three new Pub Partner sites, coupled with the resilience and commercial focus of its operators, contributing to the overall uplift.

Performance of Pub Partner sites has been underpinned by the business decision to hold supplier pricing across the majority of its draught beer range for more than 18 months, allowing partners to meet the challenge of increased payroll costs whilst continuing to offer great service to their own customers. As a result, own brewed beer volume to its UK pub estate was up 9% year-on-year.

Further support was delivered through a series of round-table discussions, with more than 50% of the estate joining members of the Wells & Co leadership team to share best practice, exchange ideas and strengthen peer-to-peer networks.

The firm’s Brewpoint brewery continued to be a driver of growth both in terms of volume and earnings. Strong demand for core brands — Supernova Helles Lager, Foghorn Hazy IPA and Genesis Stout — alongside higher production volumes, delivered a 9% uplift in overall sales. Both Foghorn and Supernova received industry awards in the last 12 months, enhancing the reputation of Brewpoint’s beer line-up.

Peter Wells, Chief Executive Officer of Wells & Co., said: “2025 has been a year of steady progress for the group, particularly in the UK, where growth in all divisions increased overall earnings.

“We have remained focused on ensuring our pubs are relevant to their communities — investing in the right offers and experiences to drive dwell time and respond to changing consumer preferences. At the same time, market conditions in both the UK and France remain challenging, and cost inflation, particularly in employment, continues to place pressure on the sector.

“Despite this, we delivered earnings growth, strengthened the balance sheet and bolstered our operational leadership. Our portfolio across both the UK and France gives the group greater balance and resilience, creating a strong platform for sustainable long-term growth.

“With clear strategic priorities in place, we believe we are well positioned to navigate the ongoing headwinds and deliver further progress in 2026, supported by a network of talented, entrepreneurial and passionate partners, in what is the 150th anniversary year of our family business.”

As the group approaches this milestone, the 2025 results reflect a business that continues to adapt to changing economic conditions and consumer behaviour, balancing investment and efficiency while maintaining a long-term view of sustainable growth.

*Excluding sites transferred between trading divisions

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