Real estate developer London Town has bought GRS Pubs, the managed pubs operator and leasehold service provider that was once part of Punch Taverns, for £4.31m. GRS chairman John Sands will be non-executive chairman of the enlarged group, while GRS managing director Richard Gundry will be chief executive. The Times 29/12/07 page 54 The Independent 29/12/07 page 50