Aprirose, the real estate investment company, which last year acquired a 73-strong pub portfolio from Mitchells & Butlers (M&B), has further strengthened its presence in the sector with the acquisition of Wear Inns for £22.4m,.

Wear Inns, in which the Business Growth Fund invested £8m in 2012 for a minority stake, currently operates 25 pubs across the North East (16 pubs) and Yorkshire (nine).

Manish Gudka, the chief executive of Aprirose, said: “The acquisition of the Wear Inns business will complement our current portfolio of pubs across the UK. The brand has developed a first-class reputation with a focus on community, quality drink, customers and staff. We have a clear vision of building a pub group of scale and we look forward to supporting Wear Inns on their next stage of growth.”

Aprirose named the 73-strong portfolio of pub it secured from M&B, Milton Pubs and Taverns. It includes 65 freehold and eight leasehold properties located across the UK in England, Scotland and Wales. Earlier this year, Aprirose appointed Daren Knipe, formerly of LT Pub Management, as managing director of its pubs and bars estate.

The acquisition of the 73 assets, which was valued in excess of £40m, made Aprirose the eleventh largest managed pub group in the UK. Tenants within Aprirose’s current pub portfolio include Greene King, Marston’s and Punch Taverns.

The M&B deal marked Aprirose’s first management contract undertaken in the sector.

Founded in 2006 by John Weir, managing director, and John Sands, the former head of Pubmaster, Wear Inns focuses on the acquisition and management of freehold community pubs across the North East and Yorkshire. Sands sadly passed away last year.

NVM Private Equity (NVM) backed the business since its foundation and invested a further £2m at the same time as BGF began investing in the company.