Inventive buys Pitcher site from W&D

Revolution vodka bar owner Inventive Leisure has bought the Pitcher & Piano site in Chiswick from Wolverhampton & Dudley. The sale is part of a move by Wolves & Dudley to sell a handful of onerous Pitch & Piano leases while buying the freehold of sites it leases where possible it has acquired the freehold of the Pitcher & Piano in Nottingham, for example. Next month, the company is opening its first new Pitcher & Piano for a number of years at a site in Southampton.

Punch to buy Avebury Taverns estate?

Punch Taverns is rumoured to be in pole position to buy the 410 Avebury Taverns pubs being sold through agent PC Hansen. The Avebury Taverns estate generates Ebitda in the region of £22m, suggesting a sale price in the region of £230m. Avebury Taverns is being sold after a tranche of 253 lower-earning pubs were sold to Admiral Taverns for £69.75m.

Equity firms line up for Barracuda

Three private-equity firms have made the final round of bidding for managed operator Barracuda. Charterhouse, Bridgepoint and Apax are keen to take part in a secondary financing of the business as existing private-equity owner PPM Ventures prepares to exit. All the bidders are keen to support existing chief executive Mark McQuater to develop Barracuda further.

Mill House closes Pioneer offices

Mill House Inns has completed the closure of Pioneer Pub Company's offices in Slough in the wake of the merger between the two companies earlier this year. Mill House, which has an estate of 108 pubs, now has all administrative functions based at its Gloucester headquarters.

Trust Inns investing £5m in estate

Trust Inns, the 513-strong tenanted estate owned by Trevor Hemmings, is pledging a record investment of £5m in its estate this year. Managing director Brian King said: 'Our business development managers' expertise and local knowledge is key to ensuring that investment is supported by a proper business plan.

Brannigan's joins Croydon exodus

Brannigan's, the bar chain owned by Herald Inns, has become the latest brand to abandon Croydon. The Brannigan's site is being offered on a nil premium by agent Davis Coffer Lyons. Last month, the Morning Advertiser revealed that Regent Inns had closed its Pals site. Licensing sergeant Chris Gould has claimed trade has not recovered since the football riots of Euro2004 in the town.

Brains' revitalisation wins recognition

Welsh brewer Brains has won a 'highly commended award for brand revitalisation in the Marketing Society 2005 awards. Extensive market research, a new identity and a public-relations and advertising drive paved the way for a major lift in the company's fortunes. Turnover was up 28% and profit increased by 24% in 2004, the Marketing Society noted.

Yesteryear ventures into hotel market

Yesteryear Pub Company has made its first foray into the hotel sector with the acquisition of a property in St Annes-on-Sea, Lancashire. Yesteryear, which is also soon to open one of its upmarket Number Fifteen bars on St Annes Road West in the town, has acquired the 10-bedroomed Manhattan Hotel for an undisclosed six-figure sum.

Walsh joins EP Bars as ops manager

Mark Walsh has been appointed operations manager for Eldridge Pope Bars (EP bars). The 35-year-old Australian will be responsible for new Que Pasa bars in the pub company's western region. He will also be overseeing the transformation of a number of Toad bars into Que Pasas. Mark worked in the Australian restaurant and pub business before coming to the UK in September 1999 to work on Regent Inns' Walkabout brand. He subsequently moved to Barracuda Inns before joining EP Bars in Dorset earlier this month.

Leeds opening for Las Iguanas

Bristol-based Metrodiner is opening its eighth Las Iguanas bar, in Cloth Hall Street, Leeds. Existing sites are in Bath, Cardiff, Nottingham, Sheffield, Birmingham and Bristol. The new site will have 5,000sq ft of space and open on 26 June.

Urbium buys two Spirit sites in London

Urbium has acquired two West End sites from Spirit. The venues are the Long island Ice Tea Room, in Upper St Martin's Lane and Bar 38 opposite. Acquisition and refurbishment will cost a total of £3.8m. Urbium chief executive Steve Richards describes the two sites as 'amongst the best to come on the market in central London in some time.