Longshot, the business led by entrepreneurs Joel Cadbury and Ollie Vigors, has acquired the niche Bel & The Dragon business as a foothold in the pub-restaurant market – with a plan to build a bigger managed pub company. The price Longshot paid has not been disclosed but it is thought that the group, which used to own the Groucho Club, paid in the region of £4m for the four pub restaurants to Orchid Group. The upmarket country-style pubs are in Windsor, Cookham, Godalming and Reading. Longshot will invest a "seven figure" sum in refurbishing the pubs and will add bedrooms where possible. Cadbury, a decedent of the founder of the British confectionary group sold to Kraft last year, said Longshot was in discussions about further acquisitions and would expand the business to 10 pubs "as quickly as possible", ultimately, aiming to have 50 outlets. The acquisition is the first investment that Longshot has made since it completed a £30m fundraising last year to invest in pubs. As well as the Groucho club, Cadbury and Vigors are former owners of Third Space, the London health and fitness club. They made their name in the sector owning clutch of eating and drinking venues in West London, such as The Admiral Codrington, The Salisbury Tavern and Vingt-Quatre. Cadbury said that the Bel pubs have a similar feel to The Admiral Codrington. "There is considerable opportunity in this sector and we hope to acquire further leisure businesses where we can see potential to add value," he said. Vigors said: "Bel and The Dragon has a strong history and heritage. We believe with our background, experience and investment in the business, we can build and develop it into a strong and profitable brand." Coffer Corporate Leisure handled the sale on behalf of Orchid Group and RBS.