Powder Train, the tenanted pub company set up by David Butcher, former property and operations director at George Gale and Company, expects to take its portfolio of pubs to five by the end of the year. The company, which was launched earlier this year, acquired its third site the Kings Arms in Fernhurst, West Sussex, at the start of this month for a sum in the region of £800,000. The sale was handled by AG&G, the letting agents. Butcher, founder and chief executive of Powder Train, which is backed by private investors, said the company already had another two sites under offer and from next year would be looking at acquiring five to 10 pubs a year. He said: “There is scope to push the company on next year and invest in more sites. We are looking at properties from Birmingham downwards. “The name Powder Train comes from the fuse that is used to light gunpowder, and in many ways sums up the business. We would rather start with a bang than a slow gradual build up.” Butcher left Gales after it was acquired by Fuller, Smith & Turner for £91.8m at the end of 2005.