InnDeed Group, the tenanted pub company led by Peter Brook, has acquired 12 sites from the Pub People Company (PPC) for an undisclosed sum.
The pubs, located in the M1 corridor between Doncaster to Rugby, takes InnDeed’s pub estate to 29. As part of the deal, PPC will continue to operate the pubs under tenancy.
InnDeed, which is backed by Dawnay Day Principal Investments, was formed in October 2006 with the aim of building a significant presence in the tenanted and leased sector. It plans to acquire up to 1,000 pubs.
Brook, an industry veteran who built and ran InnSpired prior to its sale to Punch Taverns in 2005, said: “We are delighted to acquire these pubs which are all very good quality and we remain very keen to make further acquisitions.”
The company’s latest acquisition follows its deal in April to buy six pubs from the Cedar Pub Company for £3.2m.
Luke Bridgeman of Dawnay Day said: “We are very pleased to support Peter Brook in completing the third acquisition by InnDeed so soon after the formation of the venture.”
The private equity group is an investor in Austin Reed, the clothing retailer, and a former investor in Paramount Restaurants.
