Activities

Pub and hotel operator

Timeline

The company was founded in 1976 and intially operated as a restaurant in Blackpool. By the early 1980s, three tied pubs had been acquired and by 1989 the group had a total of 14.

The estate grew to 27 and it was floated in November 1998, raising £2.75m.

Expansion continued to 42 sites and two operating divisions were creates, Venue Bars and Inns and Taverns.

In March 2001, the group acquired the Devonshire Pub company, adding 35 pubs to the estate. In July 2001, it sold a package of pubs for £6m.

In July 2002, the company entered into an agreement with Nectar Taverns to provide management services in the formation and operation of a chain of unbranded public houses to be developed by Nectar. The agreement will see Nectar investing more than £10 million over a period of 12 to 18 months.

In February 2003, Honeycombe sold 12 of its freehold pubs to Punch Taverns for £11.7m as part of a sale-and-manageback deal. Honeycombe signed a 20-year contract to manage the pubs.

In December 2003 Honeycombe secured a management agreement with the Great English Pub Company to manage all six of the company's sites, which operate under the Ma Hubbards brand name. The deal is for 10 years with the option to buy after year four.

Operating data

The pre-tax loss for the half-year 2003 reflects a one-off charge of £700,000 in connection with the purchase of the Devonshire Pub Company in 2001.

Number of pubs: 95
Number of employees: about 800

Strategy

"We will continue to look for growth through our management services capabilities, whilst running our core estate effectively."
Sandy Anderson, chairman
Interim results statement, 31 January 2005

Chief executive

James Baer and Bryan Wardman

Key directors

Chairman: Sandy Anderson
Finance director: Tracey Alston

Contact

Marian House
Beech Grove
Preston
PR2 1DU

Tel: 01772 723764
Fax: 01772 722470

E-mail:
Website: http://www.honeycombe.co.uk