Food & Drink Group acquires Puzzle Pub company leaseholds

Pub operator Food & Drink Group has acquired seven leasehold sites from the Puzzle Pub Company for £1.2m.

Each of the bars will be incorporated into Food & Drink Group’s existing portfolio of 26 bars, which includes brands such as American-themed eatery Henry J Beans and Jamie’s Wine Bar.

Food & Drink said that the short-term goal was to maximise the performance of the five Puzzle sites with outdoor space during a summer trading period when the smoking ban is introduced, before re-branding them later.

The seven sites achieved turnover of £3.7m and pre-tax profits of £300,000 for the year-ending 31 January.

Stephen Thomas, chairman at Food & Drink, said: “This acquisition meets our strategic objectives and will enhance shareholder value. These are good trading sites in some excellent locations which will enable the group to continue to deliver its growth aspirations.”

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By Christopher Walton

 

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