Heartstone Inns acquires fourth pub

Heartstone Inns, the company formed by ex-Refresh UK colleagues Stuart Hawthorn and James Birch, has acquired its fourth pub, the Hare & Hound in Putts Corner, near Sudbury, in Devon.

The company, which raised £3m in private equity funding towards its expansion plans last year, has acquired the site from Peter Cairns, for an undisclosed sum from an asking price of £2m.

Hawthorn told M&C Report: "The Hare & Hound is well-known locally and operates a traditional carvery, which is a first for us.

"It is located on an eight-acre site and is currently operating to capacity, so we have already put forward a planning application to extend the pub's restaurant section."

The company, which plans to eventually build a managed estate of 20 to 30 sites, acquired its third pub, The Diggers Rest in Woodbury Salterton, near Exeter, last September, and is currently in negotiations to acquire a fifth site.

The group also operates the Butchers Arms near Stroud, in Gloucestershire, and the Cricketers in Dorset.