New owners of Shrewsbury Buttermarket 'committed to protecting what people love about it'

The owners of Shrewsbury Prison have bought another popular entertainment venue in the county town, after its former owner of 15 years announced he was standing down on Monday.

Cove Group, who are based in Shrewsbury, has acquired the Buttermarket, it has been revealed.

The group also owns Shrewsbury Prison, which is now a beloved visitor attraction at the heart of town.

It comes after Martin Monahan, who had been running the Buttermarket since he took it over in 2012, announced on Monday that he would be handing over the ownership reins.

Cove Group has said it will be keeping the same management team, staff and programme at the venue, but the takeover means there is scope for collaboration with Shrewsbury Prison.

Joel Campbell, founder and CEO of Cove Group, said: “This is an incredibly exciting moment for Cove Group and for Shrewsbury.

“The Buttermarket is a fantastic business with a brilliant reputation, an established customer base and enormous potential.

“Martin and his team have created something really special, and our ambition is to build on everything that makes the Buttermarket successful while introducing new ideas, experiences and opportunities.”

He went on to say: “What makes this acquisition particularly exciting is how naturally it complements our existing businesses, especially Shrewsbury Prison.

“We have a real opportunity to bring together entertainment, hospitality, events and experiences in ways that will benefit both businesses and, importantly, the town itself.

“We have ambitious plans for The Buttermarket, but we're equally committed to protecting what people already love about it.

“This is about building on its success, supporting its people and creating an even more exciting future.”

The new owners have stressed that all tickets previously bought will remain valid moving forward, but further developments regarding future as yet unannounced events will be revealed in due course.

The acquisition is part of what Cove Group describes as its wider strategy of taking over, developing and operating distinctive businesses.

Talking about the takeover, Mr Monahan said: “The Buttermarket has been a huge part of my life, and I'm incredibly proud of what we've achieved here and the reputation we've built.

“When considering the future of the venue, it was really important to me that it went to someone who understands its potential, appreciates what makes it special and has the ambition to take it forward.

“Joel and Cove Group have some fantastic ideas, and I'm genuinely excited about what the future holds.

“They have the experience, energy and vision to build on what we've created and take the Buttermarket into its next chapter.

“I'll be working closely with Joel and the team to ensure a smooth transition, and I'm looking forward to seeing the venue continue to grow and succeed.”

Mr Campbell continued by stating he was “proud” to be investing again in Shrewsbury.

He added that he believes “the Buttermarket can play an even bigger role” in the town’s future.