Charles Wells acquires nine Punch Taverns pubs

18 June 2009 by
Charles Wells acquires nine Punch Taverns pubs

Charles Wells has taken on another nine tenanted pubs from Punch Taverns for an undisclosed sum, following hot on the heels of its recent deal to purchase 17 Punch pubs.

The pubs covered by the latest purchase - expected to complete on 30 June - are based across Warwickshire, Essex and Hertfordshire.

The deal, which brings the Charles Wells estate to 260, forms part of the company's aim to take on 30 new sites by the end of September. It is the latest in a series of disposals that Punch has made in an effort to address its £5b debt mountain.

Peter Wells, sales & marketing director Charles Wells Pub Company, said: "We've been very pleased with how smoothly the pubs from our previous deal have been integrated into our estate and are thrilled that we've identified a further nine high quality pubs that complement our operational model.

"Whilst the pubs are within our existing trading area, they will strengthen our presence in a number of regions and we look forward to meeting retailers and their consumers in the forthcoming weeks."

Charles Wells has invited licensees from the newly acquired pubs to meet the directors and support team within the next month.

The pubs covered by the deal are:

- The White Horse, Balsall Common, Coventry 9. The Two Boats, Long Itchington, Southam

  1. The Rose Inn, Baxterley, Atherstone
  2. The Cottage Inn, Kenilworth
  3. The Two Brewers, Northaw, Potters Bar
  4. The Bull, Theydon Bois, Epping
  5. The Bear, Stock, Billericay
  6. The Crown, Sandon, Chelmsford
  7. The Cross, Kenilworth

Charles Wells buys 17 tenanted pubs from Punch >>

Charles Wells moves to help licensees >>

Charles Wells provides further support for licensees >>

Fuller's snaps up Punch pubs in £21.1m deal >>

Shepherd Neame spends £15m on 13 Punch pubs >>

By Daniel Thomas

E-mail your comments to Daniel Thomas here.

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