Pubs ‘n' Bars takes ownership of Community Taverns

10 May 2007 by
Pubs ‘n' Bars takes ownership of Community Taverns

Pub owner and operator Pubs ‘n' Bars has taken full ownership of Community Taverns for £2.45m increasing its estate to almost 100 boozers.

Community Taverns was formed in 2003 as a joint venture between Pubs ‘n' Bars and Bank of Scotland Integrated Finance.

Pubs ‘n' Bars invested £750,000 to become a 15% shareholder and managed Community Taverns' estate for £480,000 per year.

The Community Taverns estate consists of one freehold and 24 leaseholds and finished the financial year ending 31 December 2005 with gross assets of £10.6m and a pre-tax loss of £1.2m.

Mel Belligero, chief executive at Pubs ‘n' Bars said the acquisition of Community Taverns would "safeguard annual management fees of £480,000 and contribute positively to group revenues".

Pubs ‘n' Bars buys Moorgate London for £6.6m >>

Pubs 'n' Bars makes solid start to the year >>

Pubs ‘n' Bars website >>

By Christopher Walton

E-mail your comments to Christopher Walton](mailto:christopher.walton@rbi.co.uk?subject=Pubs 'n' Bars takes ownership of Community Taverns) here.

[The Caterer Blog](http://www.caterersearch.com/blogs/catering-news-blog/) Catch up with more news and gossip on the Caterer Blog here
[Newswire For the latest hospitality news, sign up for our e-mail news alerts.
The Caterer Breakfast Briefing Email

Start the working day with The Caterer’s free breakfast briefing email

Sign Up and manage your preferences below

Check mark icon
Thank you

You have successfully signed up for the Caterer Breakfast Briefing Email and will hear from us soon!

Jacobs Media is honoured to be the recipient of the 2020 Queen's Award for Enterprise.

The highest official awards for UK businesses since being established by royal warrant in 1965. Read more.

close

Ad Blocker detected

We have noticed you are using an adblocker and – although we support freedom of choice – we would like to ask you to enable ads on our site. They are an important revenue source which supports free access of our website's content, especially during the COVID-19 crisis.

trade tracker pixel tracking