Wolverhampton and Dudley Breweries has announced a 128 pence per share cash offer for English Country Inns. The deal values ECI, which was established in 2001 under the Enterprise Investment Scheme, at approximately £13.65m. Ralph Findlay, Wolves’ chief executive, said: 'ECI's estate of 14 pubs is an excellent fit with our existing Pathfinder Pubs business, and reinforces our position as a leading operator of high quality pubs across the country. "Consolidation continues to be a feature of the industry and this acquisition provides a good return for W&DB shareholders and new opportunities for ECI employees." ECI’s portfolio of 14 unbranded public houses, 13 of which are freehold properties, is located around central and southern England. The company reported turnover of £6.2m, profit before taxation of £24,000 and net assets of £10.4m for the year to 29 May 2004. Roger Hunt, chairman of ECI said: "The offer represents good value to our shareholders. ECI has acquired a strong portfolio of public houses over the last four years and the offer is a fair reflection of the value that has been created in our properties during this time." Wolves had been widely tipped to buy Belhaven, which was acquired by Greene King earlier this week.