Business
Fuller, Smith & Turner PLC: Acquisition of Lo...
Fuller, Smith & Turner PLC: Acquisition of Lo....
About this update from Fuller, Smith & Turner P.l.c. Class A
[{"type":"text","content":"\n \n \n \n\n\t\n\n\n\n\n\n\n\n\n\n\n\nFuller, Smith & Turner PLC (FSTA)\n\n\n\n\n\n\nFuller, Smith & Turner PLC: Acquisition of Lovely Pubs 06-Aug-2024 / 13:53 GMT/BST\n\n\n \n\n \n\n6 August 2024 \n\nFULLER, SMITH & TURNER P.L.C.\n\nAcquisition of Lovely Pubs\n\n \n\nFuller, Smith & Turner P.L.C. (“Fuller’s” or “the Company”), the premium pubs and hotels business, today announces it has completed the purchase of Lovely Pubs, a collection of seven fantastic pubs in Warwickshire, six of which are freehold, for a total consideration of £22.5 million.\n\n \n\nThe pubs, which include one with 16 boutique bedrooms, are a highly complementary addition to Fuller’s existing portfolio of pubs and hotels in neighbouring counties. They align perfectly with the Company’s vision and strategy, offering outstanding service and a premium food and drink offer.\n\n \n\nIn the last reported financial year, the group being acquired generated EBITDA of £3.1 million. The acquisition is expected to be earnings enhancing in the first full year and will be funded from existing banking facilities. CBRE acted as advisors on the deal. \n\n \n\nChief Executive Simon Emeny said: “I’m delighted to be announcing the acquisition of Lovely Pubs. These seven outstanding sites are a perfect fit with our existing estate both in terms of their premium operational style and their geographical location. We are looking forward to welcoming these pubs, and their teams, to the Fuller’s family.”\n\n \n\n- Ends –\n\n \n\nFor further information, please contact:\n\n \n\nFuller, Smith & Turner P.L.C.\n\nSimon Emeny, Chief Executive (press) 020 8996 2000\n\nNeil Smith, Finance Director (analysts) 020 8996 2000\n\nGeorgina Wald, Corporate Comms Manager 020 8996 2198\n\n \n\nInstinctif Partners\n\nJustine Warren 020 7457 2010\n\n \n\n \n\nNotes to Editors: \n\nFuller, Smith & Turner PLC is the premium pubs and hotels business that is famous for beautiful and inviting pubs with delicious fresh food, a vibrant and interesting range of drinks, and engaging service from passionate people. Our purpose in life is to create experiences that nourish the soul. Fuller’s has 185 managed businesses...