Capital Pub Company is to float on the Alternative Investment Market (AIM) at the start of next month in a bid to raise funds for pub acquisitions across greater London.
The company already 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.
Capital said the market for pub acquisitions was continuing to evolve and noted that the larger pub operators were continuing to rationalise and dispose of sites, which would provide acquisition opportunities.
David Bruce, chief executive, at Capital said: “Our estate comprises some high-quality assets which benefit from being part of a larger group. We hope to continue to acquire quality pubs in greater London.”
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 set to float on AIM >>
Capital Pub Company website >>
Bruce plans float for latest pubco >>
By Christopher Walton
E-mail your comments to Christopher Walton here.
|
|
Newswire
For the latest hospitality news, sign up for our e-mail news alerts. | |