CHARLES WELLS LTD ANNOUNCES ACQUISITION OF 17 PUBS
Publican Award Winner Charles Wells has announced the acquisition of 17 tenanted pubs from Punch Taverns.
The freeholds of the pubs have been bought for an undisclosed sum, with completion expected on Monday 18th May 2009. The pubs offer a high standard of food and drink service and some provide new geographical trading areas for the company.
Announcing the acquisition, Charles Wells Pub Company Managing Director Anthony Wallis said “These high quality pubs are an excellent addition to the award winning Charles Wells estate and reflect our strategy of investing in great properties and retailers with sustainable businesses.”
“Whilst we continue to look for appropriate acquisitions” continued Wallis “our initial priority is to integrate these 17 pubs into Charles Wells Pub Company as smoothly as possible. In particular, we’ll make sure the licensees are aware of the full range of support services they can draw upon. We believe our retail support package is one of the best in the industry and our flexible working relationship with pub retailers enables them to build sustainable and profitable businesses. By working together to develop a successful pub our aim is to deliver a great pub experience that meets consumers’ needs.”
Purchase of the 17 pubs brings the Charles Wells estate in England to 251, all operated on tenancy or lease agreements.
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www.charleswells.co.uk
For Immediate Release: Friday 8th May 2009
For Further Information, please contact: Kate Hempsall
Tel: + 44 (0)1234 272625
