Hampshire-based Upham Pub Company hopes to complete its latest £15m fundraising drive in July, company co-founder David Butcher has told M&C Report.
He said £11m has been raised to date under the Enterprise Investment Scheme (EIS). The remainder of the fundraising will take place across two tranches - it will look to raise £2m in February and a further £3m in July.
Butcher also said that Upham Pub Company has completed on its eighth site, the Wheelwright’s Arms in Havant. The pub has been bought from Punch Taverns for c£500,000. The aim is to re-open the site in the spring following an investment that will include the addition of new rooms.
Upham Pub Company, which is the sister company to Upham Brewery, aims to grow to between 20 and 30 sites.
Precis
He said £11m has been raised to date under the Enterprise Investment Scheme (EIS). The remainder of the fundraising will take place across two tranches - it will look to raise £2m in February and a further £3m in July.
