Redcomb Pubs, the multiple operator led by Dan Shotton and Mark Draper has acquired The Cherry Tree pub in East Dulwich and at heads of terms to add a further four sites to its estate.
The newest site is due to reopen in eight weeks following a £400k refurbishment.
Shotton said: “I am really pleased with progress on our 2015 acquisition strategy, which continues to strengthen our balance sheet, cash flow and economies of scale. We are currently at heads of terms on four more sites which we will be able to announce shortly, along with exciting news on our investment and growth strategy for the next three years”.
The group is preparing to openThe Carnavon Arms in Newbury next week following extensive restoration to the 18th century coaching house. It features 18 letting rooms, taking the group’s total number of rooms to more than 100. As accommodation plays a more significant role in the company’s plans, it intends to double the number of rooms in its estate over the next two years.
Chris Bickle, of Davis Coffer Lyons, acted on the deal.
