Amber Taverns, the Preston-based operator of wet-led freehold pubs, is to invest around £6m a year over the next three years as it looks to expand its estate passed the 100 mark. The LGV Capital-backed company, which this morning announced it had secured £5m in new funding, hopes to add 10 to 12 sites a year during that time. It hopes to be producing unit ebitda of £10m by the time its estate has grown to 100 sites. The group, which is led by chairman Clive Preston and managing director James Baer, currently has 67 pubs in operation, but has secured a further four sites in Barnsley, Northwich, Wellington near Telford and Wolverhampton. It expects all the three sites in Barnsley, Northwich and Wolverhampton to open before the end of the year, while the Wellington site will open next February. The Chennels in Barnsley town centre was the group’s 71st acquisition. The freehold of the pub was acquired off an asking price of £500,000. Preston told M&C Report that the company is currently in talks to acquire a further four sites. The new funding for the company comes in the form of a £4m revolving credit facility (RCF) from Lloyds Bank Corporate Markets Merseyside plus £1m in loan notes from private equity backer LGV Capital (LGV).