Mosaic Pub and Dining, formerly known as City Pub EIS Fund, has acquired its 18th pub and restructured its senior team, MCA understands.

The group has completed on the lease for the Misty Moon, in Bethnal Green. Mosaic will fully refurbish the pub over the next five to six weeks, and plan to retain the character of the building while updating the offer and making the large back garden a major feature.

The group also confirmed to MCA that James Watson, formerly finance director and Peter McDonald, chief operating officer, have now been promoted to joint chief executives.

The group has raised a total of £41m through EIS funding over the past year to build a collection of pubs, principally in London and the Midlands.