Liberation Group has made its first acquisition since it received £118m backing from Caledonia.
Butcombe Brewery, which Liberation acquired last year, has completed the freehold purchase of its 23rd pub – the Old Restoration on Cheltenham’s high street.
The purchase follows the brewer’s acquisition of The Pelican Inn, Chew Magna and The Charlton Inn, Shepton Mallet earlier in the month, which kick-started a strategic growth plan that could see up to 20 pubs a year joining the Butcombe family over the next five years.
The Old Restoration marks the brewers second outlet in Cheltenham, where it also owns The Frog and Fiddle.
Butcombe’s pub operations manager, Charlotte Close, said: “The Old Restoration is a fantastic addition to our portfolio in a great city. We will be fully refurbishing the site in the coming months and plan to introduce a premium casual dining concept driven by our great range of beers and craft ales. The building itself has a wonderful character which reflects the Butcombe brand perfectly, we can’t wait to see the outputs of another successful transformation following our investment.”
Liberation Group chief executive Mark Crowther said: “It’s no secret we’re looking to grow the Butcombe business both organically and through acquisition. Following the positive news of our refinancing earlier in the month, it’s fantastic to welcome another great site to into our business as part of our ambition to become the leading brewer and pub operator in the West Country.”
