Puma Investments has begun the process of exiting its investment in the 14-strong Derby Pub Company, MCA understands.
The EIS-backed fund, which has invested £6.2m into the pub group, said the business was moving towards realisation of its portfolio with two of its assets currently under offer for sale, whilst certain other assets are targeted for sale during the first half of this year.
It is understood that the remaining core portfolio is intended for sale as a single transaction
Puma said that in line with the wider pub and casual dining sectors, trading for the company over the past 12 months has been difficult in some locations as consumers have remained cautious
It said: “Management continues to focus on boosting trade across the core portfolio in order to maximise value for shareholders.”
Last June, Derby Pub Company sold its first asset, the Waverly Arms in Weymouth, for a 57% uplift on purchase price after gaining planning permission for conversion of the unit into flats.
Puma Investments also has a franchise agreement with Brewhouse & Kitchen called Hot Copper, which currently operates four pubs.
