Pub group aiming to acquire 60 venues following investment
Wed, 19 Apr 2023 | COMMERCIAL PROPERTY
Pub group The Pub People Company has announced plans to acquire up to 60 pubs after securing financing from investment manager Downing LLP. Downing has committed to financing the company’s expansion after acquiring the business last year.
The firm is targeting the acquisition of freehold venues across Yorkshire, Lincolnshire and the East Midlands. Commercial property agent FHP has been engaged to source suitable properties for the company’s estate, with opportunities from both groups and independent owners being explored.
The Pub People Company was founded in 1993 and currently operates a portfolio of 40 managed pubs in and around Nottingham, Sheffield, Derby, Chesterfield and Lincoln. The firm’s expansion plans come at a time of busy M&A activity in the pub sector, with rising costs prompting many large groups to sell off parts of their portfolio, creating acquisition opportunities for operators looking to grow.
The Pub People Company Managing Director Andy Crawford said: “The Pub People Company is keen to invest in further venues in the East Midlands, Lincolnshire and Yorkshire areas. We’ve got a great following in our current estate of 40 pubs and we would like to expand on those.”
“The pub sector continues to have its challenges but with a long established business, strong backing and well invested properties in the area, we’re keen to add to our estate. We are looking to acquire freehold pubs in community and town locations across the region and are keen to speak to individual pub owners and groups who may be looking to sell.”
FHP Director Doug Tweedie added: “This is an exciting time of expansion for The Pub People Company and we’re happy to be helping them to find new freehold pub sites.”
“We’ve formed a strong team between the two parties, which means we are able to appraise and make decisions on new acquisitions quickly and efficiently. We’re looking forward to speaking to like-minded individual owners and pub groups about new opportunities.”
Read more about what's driving M&A activity in the hospitality industry.
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