A ‘keen interest’ has been shown by prospective investors and operators in Cross Oak Inns, the Enterprise Investment Scheme (EIS)-backed, gastropub chain led by Peter Eyles, which appointed advisers to review its options, including a sale of the business which is valued at around £5m, in last month.
Advisor Christie + Co said that a number of interested parties have stepped forward to enquire about the potential acquisition of the four freehold pubs run by the group.
Neil Morgan, director and head of pubs for Christie + Co, said: “The response has been quite strong - and why wouldn’t it be -in these quintessentially English country pubs? The portfolio represents a real opportunity for potential buyers to either expand their estate or acquire a scalable platform in the sought-after managed house sector.
“While we currently remain in confidential discussions with a number of parties, we would expect the interest to translate into some positive movement in the weeks ahead.”
It is thought that the Home Counties-based group, which was founded in 2004 and comprises four freeholds, may have attracted interest from corporate buyers and acquisitive businesses such as Bel & the Dragon, Cirrus Inns and Brunning & Price.
Cross Oak currently operates the Inn on the Pond, near Redhill; the Ostrich, near Heathrow; the King’s Arms Inn in Oakley, Surrey and the Poacher in Tudeley, Kent.
