Pubs group adds 20 properties and completes investment round
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Darwen-based Inglenook Inns & Taverns has completed the acquisition of 20 freehold pubs, and an investment deal to fund further growth.
The company has added the pubs – located in Burnley, Wigan, Accrington, Rochdale, Halifax, Cheshire, Liverpool, Chorley, Huddersfield, Staylebridge, Leigh and Heywood – following a deal for an undisclosed sum to buy Atherton-based Leo Taverns.
Inglenook said its business has a strong belief that the local pub is the hub and heart of the community and will play an integral part in the recovery of the nation post-lockdown.
It said it believes that people are keen to enjoy the hospitality of their local, “doing what they most enjoy, with the people they love”.
And it reaffirmed its commitment to high quality, well invested pubs run by publicans who are passionate about their products and proud of their customer service.
It said it will work closely with its publicans to help them realise the true potential of their pubs.
Chief executive, James Waddington, said: “Our business is based on family values – hard work, integrity, flexibility and fun, with an eye to the future.
“This acquisition is complementary to our core business and will enable us to realise the true value of the neighbourhood pub.
“We look forward to working with our new publicans, helping them both to grow their businesses and create successful pubs which are pivotal to the heart of the community.”
He added: “Inglenook is also delighted to confirm a further multimillion-pound investment from a London based strategic investor to continue our business plan of acquiring quality wet-led community public houses in the North of England.
“We are currently engaged with ongoing discussions and are actively seeking further acquisition opportunities.”
Inglenook was advised on the investment and acquisition by corporate finance firm Princelet Partners.