Fuller’s, the brewer and pub operator, has further strengthened its managed estate with the acquisition of a prime site in Reading – The Three Guineas, M&C Report understands.

The company is believed to have paid a seven-figure sum to secure the leasehold of the site at Reading station, with the pub set to undergo a refurbishment in the new year.

The site was secured from Redcomb Pubs Ltd, company created earlier this summer from the merger of Redcomb Pubs and Broken Foot Inns.

The merger created a 12-strong group with vastly improved purchasing power, which is forecast to generate annual sales in excess of £12m.

The new company is headed up by managing directors Dan Shotton and Mark Draper, with David Franks as chairman, and Peter Mackie and Quentin Williams also sitting on the Board.

Last month, Fuller’s reported a 6.5% increase in like-for-like sales across its managed pubs and hotels division, helped by a rise in like-for-like food sales of 7.7% for the 26 weeks to 27 September 2014.

Davis Coffer Lyons acted on the Three Guineas deal.