Ultimate Leisure completes pub chain buy to boost food business

Ultimate Leisure has today completed its acquisition of the Bel and the Dragon pub group for £8.75m to bolster its food offer.

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The North-east located company has purchased four Bel and the Dragon sites in cash from Gourmet Holdings.

In the last financial year to 25 June 2006, the sites delivered sales of £4.5m and earnings before interest, depreciation and amortisation of £1m.

Mark Jones, chairman of Ultimate, said: "Bel and the Dragon is an attractive business and the acquisition of these four sites would represent important progress in our stated aim of developing the food-led side of our business."

Gourmet Holdings has previously disposed of two unbranded pubs within the Bel and the Dragon group to Fuller's and its main focus is now its four Richoux restaurants.

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By Chris Druce

E-mail your comments to Chris Druce](mailto:chris.druce@rbi.co.uk?subject=Ultime completes deal) here.

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