Sixth site for Foundation
Foundation Inns, the Enterprise Investment Scheme (EIS) equity-backed pub company, has bought its sixth pub — the Glasshouse in Lincoln.
The Glasshouse is a former Rat & Parrot located on the St Mark’s retail park in the centre of the city. Foundation Inns plans to close the site for refurbishment, re-opening in early September.
The company is led by former Whitbread and Allied Domecq executive Ian Grundy, with Gavin Drew, previously of Spirit and Punch, the commercial and finance director.
Grundy said: “We are delighted to purchase such a great pub in an area which presents so much potential.”
Meanwhile, Neil Preston, Punch’s company secretary, has joined the board as a non-executive director. Preston’s appointment follows on from the appointment of Hugo Pring earlier in the year as an non-executive.
Pring is a former director and major shareholder of Brakespear’s.
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