The Capital Pub Company has floated on the Alternative Investment Market (AIM) with a market capitalisation of £32.3m.
It has an estate of 23 unbranded pubs across the capital, of which 20 are freeholds and the remainder leaseholds, and makes the majority of its income from drinks sales.
David Bruce, chief executive at Capital, said: “Admission to AIM takes the Capital Pub Company forward to the next stage of its development. The company intends to continue to acquire either individual or small groups of unbranded, freehold, free-of-tie, managed pubs in Greater London.”
Capital believes the market for pub acquisitions is continuing to evolve with the larger pub operators continuing to rationalise and dispose of sites and providing acquisition opportunities for companies such as itself.
The company was founded by Bruce and Clive Watson in December 2000. Watson worked for Regent Inns between 1990 and 1998 while Bruce founded the Firkin chain before selling it in 1988 and moving on to develop Slug and Lettuce for Governor Inns.
Capital Pub Company to join stock market next month >>
Capital website >>
By Chris Druce
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