Albion consolidates pub estates
Albion Ventures has consolidated its pub portfolio to be managed by Bravewood Pub Management Company Limited.
The 34-pub estate will be managed by a single high quality management team jointly led by Ken Buckley, who will oversee the pubs in the north of England, known as Bravo Inns, and Daryl Cockerill, who is responsible for the balance of the pubs in the portfolio, known as The Charnwood Pub Company.
Shane Holland will act as finance director for the entire portfolio.
The decision to consolidate the Albion Ventures pub estate was taken after a strategic review highlighted the advantages of a single management team operating the portfolio.
This will provide stronger operational management and will benefit from significant cost synergies to create a more efficient and profitable portfolio.
The Bravewood management team will focus exclusively on the Albion Ventures pub portfolio.
John Connell, Bravewood Pub Management Company said: "We are delighted to be working exclusively on the Albion portfolio in this exciting new venture.
"It is particularly encouraging in this market to have the opportunity to make further site acquisitions and the consolidation has the potential to significantly increase the financial gains of the portfolio."
Will Fraser-Allen, deputy managing partner, Albion Ventures said: "This is a good move for Albion Ventures since an enlarged pub portfolio will benefit from significant cost synergies, a hugely experienced and proven management team and a more diversified business.
"We will be working with the team at Bravewood to make acquisitions across the UK in 2010."
