Orchid plans 150 more pubs by 2011
Pub company Orchid Group is to buy 50 more pubs this year, followed by 100 in 2011, through its specialist acquisition division, Parkmill Pub Management.
The move would take Orchid to an estate of around 440 pubs, on top of the 292 it already operates.
Magnus Wilson, managing director of Parkmill said that he had small pub groups, as well as individual properties in his sights.
"Pubs are closing in record numbers, but we believe our success proves that many of these great locals can be turned around rather than simply written off. With the right passion, vision and investment we can revitalise pubs which might otherwise shut their doors for good," Wilson said.
Orchid's latest acquisitions include: the Bread & Cheese in Benfleet, Essex; the Snow Goose, Farnborough, Hants; and the Peeping Tom, Coventry. All three pubs are have been revamped under Orchid's value carvery format.
Meanwhile, the Cock Inn at Wing, near Leighton Buzzard, Bedfordshire is being refurbished as a premium carvery (serving Farm Assured British meats and fresh produce).
Orchid said it saw "strong potential" for further growth of both carvery formats as well as its Dragon pub format, which combines a Thai restaurant and a British local within a single business.
Rufus Hall, Orchid's chief executive said: "The strength of our formats is that they are flexible enough to preserve the character of an individual pub, but robust enough to ensure that the businesses are well-run, successful and have strong customer appeal."
"This is an important and exciting period of growth for Orchid. We have already demonstrated that our approach can revitalise pubs in a diverse range of locations and trading styles. Following our acquisition of Premium Bars & Restaurants the end of 2009, and the launch of Parkmill Pub Management, we've never been in a stronger position to ramp up our acquisition programme."
Earlier this year, Hall told Caterersearch.com that Orchid could grow its estate to as many as 500 pubs within the next few years.
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By Neil Gerrard
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