Inglenook Inns & Taverns, the Lancashire-based pub group, plans a major expansion drive to expand from nine to 22 sites by the end of 2016 as it eyes the possibility of seeking third-party investment, director James Waddington has told M&C Report.
The company, which last week opened the Beaumont in Bolton, a Punch Taverns tenancy, expects to secure a three more outlets over the next six to eight weeks, Waddington said. The plan is to add a further three by the end of the year.
“We will have 15 sites as a minimum by the end of this calendar year. We’ve got another seven planned developments planned for 2015.”
Waddington said his target is to reach 28 sites, and then explore the options for private investment in the business.
He said the company is focusing on creating brand awareness around Inglenook Inns & Taverns in 2014. Menus and point-of-sale material is being branded Inglenook this year.
The Beaumont opened on 21 March after a joint investment with Punch of £200,000
Waddington said: “I am truly delighted at the response, we couldn’t have asked for more. The pub looks fantastic and I can’t believe the transformation. It has been completely refreshed yet it is bright and welcoming, an ideal venue for everyone. We wanted to create a family-friendly pub, which is truly pivotal to the community and I am confident that we have succeeded.
“We have introduced cask ales to the pub – and even encouraging our ladies to give it a try – as well as a new food menu featuring homemade pub classics. We will be serving a traditional Sunday roast, a perfect opportunity to get together with family and friends and celebrate this British tradition. Sky Sports means that our customers can enjoy all the big games and events.
“We will also be launching our popular ‘chip-inn’ scheme, where every time a portion of chips is ordered, 25p goes to the local primary school.”
Punch Taverns partnership development manager Tracy Duncan said: “Everyone is really pleased with the transformation and considering the reputation Inglenook Inns and Taverns have built at the Grapes in Goosnargh, the Towneley Arms in Longridge and the Coach & Horses in Freckleton, as well as the opening success at the Beaumont, I have every confidence that James and the team will take the pub from strength to strength.”
Inglenook also operates a separate pub management business called Ignition Pub Management, which operates 12 pubs under temporary agreements.