Fuller's takes on five Marston's pubs in £16m deal
Fuller's will add five new pubs to its portfolio next month, taking the total number in its estate to 365.
The London brewer and pub operator will acquire the Wellington, Waterloo, the Pavilion End and Bluu in the City of London, the Hand & Flower, Kensington Olympia, and the Red Lion Hotel, Wendover, on 1 November from Martson's in a deal worth £16m.
The move marks a year of activity for the firm, which acquired the White Swan, Stratford-upon-Avon, and the Drayton Court in Ealing earlier this year and is defying the troubles plaguing the industry - last month Campaign for Real Ale (Camra) research revealed that two pubs are closing every day.
Fuller's latest purchases - three of which are leasehold and two freehold - add a further 58 bedrooms to the business, bringing the total to 612.
Simon Emeny, Fuller's group managing director, said: "These acquisitions are high-turnover managed houses with a similar trading style to our own where we feel Fuller's can add value. They emphasise our continued focus on London and our strategy to increase the number of bedrooms in our estate, which is an area of growth for the company."
The move follows a plea last week by the British Beer and Pub Association (BBPA), urging pubs and brewers to throw their weight behind English Tourism Week 2012 and showcase how vital beers and pubs are to the tourism industry.
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By Helen Gilbert
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