Wear Inns continues acquisition trail
Wear Inns, a company focused on acquiring and managing a chain of community pubs across the North of England, has successfully acquired a further two premises from the Orchid Pub Group. The company acquired nine pubs from TCG Bars in July 2012, so has completed a total of 11 acquisitions only five months after receiving a £10 million funding package from NVM Private Equity (NVM) and BGF. This will bring Wear Inns’ managed pub estate to a total of 26 premises.
The newly acquired premises include The Colonel Prior in Sunderland and The Park in Bradford. Both pubs fit nicely into Wear Inns’ target criteria of community-focused establishments with a potential for development.
Mauro Biagoni, Director of NVM Private Equity, added: “John Weir and John Sands have used their extensive experience of managing large pub chains to build up an impressive estate of premises across the North. This is a management team that truly understands its market and its customers. We are pleased to be a part of their ongoing success in an industry that has had its ups and downs over the years.”
Duncan Reid, Partner and Head of Corporate Law at Watson Burton, also said: “Wear Inns is a company which has gained strength and momentum over the last year with key acquisitions in the North of England. The key to its success is the management team’s ability to acquire and manage pubs under the Wear Inns’ brand whilst retaining the individuality of the community where each pub is located. As a firm, we have advised Wear Inns for a number of years and taken great pleasure in watching the company grow. We are sure that the latest of their acquisitions will be as successful as the last and wish them the best of luck in their future endeavours.”
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