Anglian Country Inns acquires Grade II pub
The family run business bought the freehold of the White Horse in Holme-next-the-Sea from Punch in October 2023.
It acquired the operating lease from the tenant on Friday 23 February.
ACI managing director James Nye said: “It is an exciting opportunity to add a beautiful pub in a beautiful location to the ACI family and very much looking forward to making it a big part of the north Norfolk community.”
The pub, which has a beer garden, is currently closed, but will open after Easter following a refurbishment.
Will Pryke, who has managed other ACI venues, will be running the new venture.
Food & drink
Ian Daw, who has been head chef at the Hut on the Isle of Wight for the last three years, will head up the kitchen.
He is looking forward to the challenge of creating a menu that showcases local Norfolk producers while keeping a pub feel.
The bar will feature local cask ale as well as beer from Norfolk-based Duration Brewery.
In December, the multiple operator revealed a 25.8% uptick in revenue, partly driven by price increases to offset inflationary costs with the majority coming from a rise in footfall.
Financial results
Alongside the year-on-year revenue being up to £18m, from £14.3m in 2022 while site earnings before interest, taxation, depreciation and amortisation (EBITDA) was £3m, compared to £3.9m in 2022.
The overall profit of the business was maintained at 74.2% (the same as the previous year) with wet margins remaining strong and a higher proportion of events and accommodation.
The pubco also took home the Best Premium Food Offer award at The Publican Awards 2023, with the judges impressed that it delivered food of the highest quality across all sites
