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”.

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By Christopher Walton

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