6 August 2024
FULLER, SMITH & TURNER
P.L.C.
Acquisition of Lovely
Pubs
Fuller, Smith & Turner P.L.C.
(“Fuller’s” or “the Company”), the premium pubs and hotels
business, today announces it has completed the purchase of Lovely
Pubs, a collection of seven fantastic pubs in Warwickshire, six of
which are freehold, for a total consideration of £22.5
million.
The pubs, which include one with 16
boutique bedrooms, are a highly complementary addition to Fuller’s
existing portfolio of pubs and hotels in neighbouring counties.
They align perfectly with the Company’s vision and strategy,
offering outstanding service and a premium food and drink
offer.
In the last reported financial year,
the group being acquired generated EBITDA of £3.1
million. The acquisition is expected to be earnings enhancing in
the first full year and will be funded from existing banking
facilities. CBRE acted as advisors on the deal.
Chief Executive Simon Emeny said: “I’m
delighted to be announcing the acquisition of Lovely Pubs. These
seven outstanding sites are a perfect fit with our existing estate
both in terms of their premium operational style and their
geographical location. We are looking forward to welcoming these
pubs, and their teams, to the Fuller’s family.”
- Ends –
For further information, please
contact:
Fuller, Smith & Turner
P.L.C.
Simon Emeny, Chief Executive (press) 020 8996
2000
Neil Smith, Finance Director (analysts) 020 8996
2000
Georgina Wald, Corporate Comms Manager
020 8996 2198
Instinctif
Partners
Justine Warren 020 7457
2010
Notes to Editors:
Fuller, Smith & Turner PLC is the premium pubs and hotels
business that is famous for beautiful and inviting pubs with
delicious fresh food, a vibrant and interesting range of drinks,
and engaging service from passionate people. Our purpose in life is
to create experiences that nourish the soul.
Fuller’s has 185 managed businesses, with 1,025 boutique
bedrooms, and 154 Tenanted Inns. The Fuller’s pub estate stretches
from Brighton to Birmingham and from Bristol to the Greenwich
Peninsula. Our Managed Pubs and Hotels include
Cotswold Inns & Hotels – seven stunning hotels in the
Cotswolds, and Bel & The Dragon – six exquisite modern English
inns with boutique rooms located in the Home Counties. In summary,
Fuller’s is the home of great pubs, outstanding hospitality and
passionate people, where everyone is welcome and leaves that little
bit happier than they arrived.