Bravo Inns takes estate up to 40 sites
The north-west pubco has added the Starkie Arms, Padiham, and the Bradford Arms, Morecambe (both in Lancashire), to its community-focused, wet-led estate.
Bravo Inns managing director Ken Buckley confirmed his company would invest heavily to bring the sites up to speed after buying them from the administrators of pubco Calco Pubs.
"Like every pub we buy, we will give both of the sites a full refurbishment both inside and out.
"We usually end up spending more on the refurbishment than the acquisition so we will set good, high standards and the challenge for our management team is then to keep those high standards," he told The Morning Advertiser.
More growth in 2017
Buckley also confirmed that the acquisition of the two sites was funded by internal capital, meaning that Bravo Inns has not taken on more debt by adding these sites to its portfolio.
He also said he hoped the company would continue growing at a controlled rate by adding selective sites to its range.
"We have large sites and business is good so we are in a good place," Buckley said. "I would hope that we would add another two sites, possibly three, before the end of 2017. There is no specific long-term target on how many sites we would like to have in total, we will just continue to look to take on pubs that are struggling, and often closed, and bring them back to life."
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