Manchester lawyers advise on acquisition of gastropub operator
A team of lawyers at Kuits in Manchester have advised Cardiff-based Sovereign Mines of Africa on its acquisition of gastropub group Turf to Table.
The deal, for an initial consideration of £645,000, will see Sovereign renamed to The Barkby Group and become the operator of three gastropubs with a total of 38 hotel rooms in Gloucestershire and Oxfordshire.
An additional consideration of up to £560,000 is payable in three tranches depending on the satisfaction of certain profit targets.
Turf to Table was founded in 2008 by acclaimed executive chef Sebastian Snow in 2008, who has worked under chefs including Antony Worrall Thompson and went on to run highly regarded restaurants, including Snows on the Green in West London.
Kuits corporate partner Kirsti Pinnell led the acquisition, supported by commercial property partner Stephen Lopeman, who advised on new leases for two of the gastropubs, The Bull Hotel and The Five Alls.
Partner Felicity Tulloch advised on licensing proposals, while solicitor Claire Treacy advised on the employment aspects of the transaction.
Pinnell said: “The strength of our leisure advisory offering and depth of experience within our teams meant that we were able to pull in expertise from across the firm to ensure the success of this complex and multi-faceted transaction.
“Leisure is an attractive, high-growth sector in the UK and as such we expect to see greater numbers of acquisitions and an increase in investment activity going forward.”
