Former Capital owners and former Fuller's director team up to launch two pub companies
The former owners of the Capital Pub Company and a former managing director at pub company and brewer Fuller's are launching two new pub companies under the Enterprise Investment Scheme (EIS).
John Roberts, who was managing director of the Fuller's Beer Company, is a founder investor and non-executive director of two new EIS-funded businesses, alongside David Bruce and Clive Watson, who sold Capital to Greene King earlier this year for £93m.
The City Pub Company (East) and The City Pub Company (West) both plan to raise up to £2m of equity during the current tax year and, due to recent changes in the EIS rules, up to £10m each from April 2012.
The team intend to not only replicate the same successful strategies already proven by Capital Pubs but also widen the acquisition criteria for freehold pubs to cities and large towns across southern England, including London.
Roberts spent 15 years on the board at Fuller's and led the growth of London Pride before resigning earlier this year to pursue new challenges. He was previously strategic planning director with Scottish Courage, and before that group marketing controller at Courage where he launched John Smith's Extra Smooth.
Roberts said: "I am delighted to be joining forces with two of the great characters of the pub industry to help them build further value for their investors. Their experience and formidable track record in creating and selling successful pub companies gives us a strong degree of confidence in developing the two City Pub Companies."
Watson, who will be chief executive, said: "David and I are excited about teaming up again and giving our original EIS investors the opportunity to join us in our latest tax-efficient venture. We're also delighted to have someone of John's calibre and experience to add a fresh perspective to the boards of both businesses."
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By Neil Gerrard
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