Fuller’s acquires Lovely Pubs for £22.5m
The seven pubs, six of which are freehold, are all situated in ‘affluent’ commuter locations
Fuller’s has announced the acquisition of Lovely Pubs, a collection of seven pubs in Warwickshire – for a total consideration of £22.5m.
The news comes as the portfolio of Warwickshire pubs are “a perfect fit” with Fuller’s existing managed pub estate, both geographically and operationally.
Lovely Pubs is made up of The Orange Tree in Chadwick End; The Boot Inn at Lapworth; The Farm in Monkspath; Morton’s Kitchen in Dickens Heath; The Baraset Barn in Alveston, which comes with 16 bedrooms; The Moat House Inn at Kings Coughton; and The Queen’s Head in Stoke Pound.
The seven pubs, six of which are freehold, are all situated in “affluent” commuter locations.
As part of the deal, Lovely Pubs will continue to operate as they are and, to ensure that “the essence of these pubs is preserved”, founder Paul Salisbury will continue to work with Fuller’s.
In addition, all 260 team members at Lovely Pubs will be retained with the acquisition.
Simon Emeny, CEO of Fuller’s, 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. It adds scale to our presence within our geography and is a great next chapter in 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 last few years getting Fuller’s business in the best possible shape – and this is a perfect opportunity to grow our Managed Pubs and Hotels estate.”
Paul Salisbury, founder of Lovely Pubs, added: “We have spent the last 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.
“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.”
