Shrewsbury-based Cove Group, owners of Shrewsbury Prison, has announced that it has agreed to acquire The Buttermarket, one of Shropshire’s most established and recognisable entertainment venues, marking an exciting new chapter for the business.

New ownership from January 2027 promises an exciting future for one of Shrewsbury's best-known entertainment destinations, with plans to build on its success, expand its offering and create new opportunities for the town.

The acquisition will see Cove Group take ownership on 1 January 2027, bringing The Buttermarket into a growing portfolio of businesses spanning visitor attractions, property, hospitality, events and investment.

The Buttermarket has established itself as a leading destination for live music, entertainment and private events, attracting audiences from across Shropshire and beyond.

Under Cove Group's ownership, the venue will retain its established identity, existing team and successful entertainment programme, while benefiting from additional commercial expertise, investment and opportunities for future growth.

The acquisition also creates an exciting opportunity for collaboration with Shrewsbury Prison, another of Cove Group's established businesses, with the potential to develop new events, corporate experiences, hospitality offerings and partnerships that further strengthen Shrewsbury's visitor and entertainment economy.

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.

"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 acquisition represents another step in Cove Group's wider strategy of acquiring, developing and operating distinctive businesses, with a particular focus on innovation, commercial growth and exceptional customer experiences.

Cove Group will be retaining the existing Buttermarket management team, ensuring continuity for customers, performers, promoters and commercial partners while developing its longer-term plans.

Martin Monahan, current owner of The Buttermarket, 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.”

For customers, it's business as usual at The Buttermarket, with an exciting programme of gigs, shows and entertainment continuing throughout the transition and beyond. All existing tickets and bookings remain valid, with even more exciting events and experiences to look forward to in the future.

Further announcements about the venue's future programme, new experiences and development plans will be made in the coming weeks.

Joel added: "We're proud to be investing further in Shrewsbury. It's a town with enormous character and potential, and we believe The Buttermarket can play an even bigger role in its future. This is the beginning of an exciting new chapter for another of Shropshire’s fantastic historic landmarks, and I look forward to sharing what's coming next.”