Investment manager Downing LLP has acquired The Pub People Group, with a view to expanding the business.
The pub company, based in Alfreton, Derbyshire, was acquired from its existing management, Andrew Crawford and Kevin Sammons, and has been merged with Downing’s existing investment in Autumn Pubs Limited – which has been managed under contract by Pub People since 2012.
Crawford will become managing director, while Sammons, who had led Pub People for more than 28 years, will move into a non-executive role.
Funds managed by Downing will be the majority shareholder in the combined business, which comprises 49 managed pubs, with Downing having stated that has committed further funding to help the group expand through acquisitions.
Sammons commented: “I am proud to have led and built this successful company, along with the many loyal and exceptional employees who have been important contributors to that success.
“They can now continue the Pub People journey along with Downing and fulfil their and the group’s potential. I am extremely grateful for the support Downing has given us over the last 10 years. It is now time for me to step back and hand over to a worthy and capable successor and his team.”
Crawford said that while he and Sammons had worked very well together as a management team for over 20 years, “there are new chapters to be written”, for the company.
“While there are numerous economic challenges on the horizon, we have a strong team and with support from Downing the group can continue to invest and grow its high-quality pub estate,” he said.
Nick Carter, associate director at Downing, added: “Kevin and Andy have been trusted and respected partners of ours for more than a decade. We wish Kevin well and we are excited to take the group to the next stage under Andy’s direction.”
