S&NPE buys 14 pubs
Scottish & Newcastle Pub Enterprises (S&NPE) has acquired two packages of tenanted pubs from Tuns Taverns and the Progressive Pub Company.
The acquisitions, which were made for undisclosed sums, added 14 sites to S&NPE, bringing its total number of pubs to over 2,150.
The Tuns Taverns package was purchased in an off market deal and includes 10 pubs in village and suburban locations across Shropshire and the Welsh borders.
Andrew Cannons, S&N Pub Enterprises acquisitions director, said: "It is an excellent geographic fit for us as we are under represented in the area."
Cannons described the pubs as "a strong set of well maintained businesses with solid income streams".
He added: "Beer volumes are above average and 50% of the sites have a good food income with the remainder offering the opportunity to develop this area."
The Progressive Pub Company purchase was made via Christie + Co and comprises four of the company's pubs spread across the north-west and north-east.
All of the outlets are popular community locals with good beer volumes where S&NPE sees the potential to grow income streams by working with the tenants.
"We are confident the pubs will provide reliable returns on investment," said Cannons.
"We are delighted with these acquisitions. All the pubs are established businesses which have ridden the smoking ban and are performing well in their markets."
Cannons said the company is looking for further small multiple freehold packages across the country.
The company is open to considering a wide range of sites but is particularly interested in community and traditional pubs in suburban, village and canal-side locations.
