Laine Pub Co, which last month appointed advisors to assess its future funding options, could be worth over £60m according to reports.
MCA revealed at the start of last month that the 55-strong London and Brighton-based pub group had appointed BDO to work with it and backers Risk Capital and Graphite Capital to assess the best way of funding “the next chapter in our exciting journey”.
This morning the Times has this morning suggested that the process values the Gavin George-led group at £60m plus.
George told MCA at the time: “We have appointed BDO and they are working with us and our current investors to look at our strategic objectives.
“We have been encouraged by the approaches we have had in recent times, which give a good indication of the strength of the business and its potential to grow further.
“This is about looking to the next chapter in our exciting journey.”
The group has already undergone a transformative year after boosting its London estate to 19, with the acquisition of six sites from New Pub Company and a further two from the Flynn family. It has also launched the first sites under its Managed Investment joint venture with Ei Group.
In the group’s most recently published financial results – to 30 June 2016 turnover grew more than 10% to £30.4m and operating EBITDA was up over 23% to £3.9m.