Fuller’s acquires Lovely Pubs in £22.5m deal
The seven pubs, six of which are freehold, are located in a variety of commuter areas in Warwickshire and were the Orange Tree, Chadwick End; the Boot Inn, Lapworth; the Farm, Monkspath; Morton’s Kitchen, Dickens Heath; the Baraset Barn, Alveston; the Moat House Inn, Kings Coughton; and the Queen’s Head, Stoke Pound.
The pub group recently reported a 5.3% rise in its like-for-like sales in the first 16 weeks of its financial year to 20 July.
On the latest acquisition, Fuller’s chief executive Simon Emeny said: “I am absolutely delighted to be announcing this news today.
“We are very careful when it comes to finding great sites to add to our iconic pub estate and the Lovely Pubs business is a perfect match and a fantastic acquisition."
Excellent business
Lovely Pubs sites acquired by Fuller’s:
The Orange Tree, Chadwick End
The Boot Inn, Lapworth
The Farm, Monkspath
Morton’s Kitchen, Dickens Heath
The Baraset Barn, Alveston
The Moat House Inn, Kings Coughton
The Queen’s Head, Stoke Pound
He added: “It was established 30 years ago and is an excellent business with outstanding, well-invested sites offering delicious, fresh, locally sourced food, a great drinks range and a wonderful welcome.
“It adds scale to our presence within our geography and is a great next chapter in the Fuller’s story.
“We can’t wait to welcome the Lovely Pubs team to the Fuller’s family. We will continue to run the sites with their existing offer and it’s exciting to be working with the Lovely Pubs founders.
“We have spent the past few years getting the Fuller’s business in the best possible shape and this is a perfect opportunity to grow our managed pubs and hotels estate.”
The pubs will continue to operate as they are and in a bid to ensure the essence of the pubs is preserved, Lovely Pubs founders will continue to work with Fuller’s and all 260 team members will be retained with the acquisition.
Further success
Lovely Pubs founder Paul Salisbury said: “We have spent the past 30 years building up a wonderful business and we are delighted to be partnering with Fuller’s for the next stage in the Lovely Pubs journey.
“Our ethos, values and vision are very similar and Fuller’s has the credentials and expertise to deliver further success for these seven fantastic pubs.
“We are looking forward to working with the Fuller’s team and we know we have a lot to offer with our expertise in the local area.
“The similarities are obvious and the opportunity is incredibly exciting.”
