Private equity firm Albion Ventures is in “no rush” to sell Bravo Inns, the Warrington-based pub company’s managing director Ken Buckley has told M&C Report.
The 32-strong group, which specialises in buying freehold, predominantly wet-led community locals and reviving them by investing heavily, is currently waiting to complete on two sites, including one in Accrington that combines a traditional Bravo Inns offer with a separate feeder bar for a nearby nightclub.
There had been speculation that a buyer was being sought for the company. But asked if Albion Ventures was currently looking for an exit, Buckley said: “Not really. Like any venture capital-backed business, we are permanently for sale if the right offer comes in. There’s no rush and we’re not under any pressure. They’ve been very supportive.”
Buckley said he hoped to acquire another pub by the end of the year in addition to the two in legals; the other is located in Maryport, Cumbria. “I would be disappointed if we don’t end the year at 35,” he said. “I’m on the trail of several but for every one you buy, you look at 100.”
Buckley said group acquisitions would be considered “at the right price”.
Meanwhile, Buckley said there were plans to evolve the design of the outlets with a new colour scheme in some forthcoming acquisitions.
Recently Bravo Inns was named best management team in the north west by the BVCA, the representative body for the UK venture capital industry. Buckley said: “I’m delighted on behalf of my team. I think it’s a great accolade for a lot of hard work.”
Senior management at the company includes finance director Phil Dearden and operations director Mark Dean, and the firm recently appointed Dave Roblyn, formerly a business development manager at Leisure Link, as its latest area manager.
