Thwaites splashes out on Nice
Lancashire-based brewery Thwaites has announced its biggest pub purchase in 15 years as part of a major expansion programme. Last month, the company paid more than £11m for the Nice Pub Company, a division of 28 tenanted pubs belonging to Tom Cobleigh.
The deal takes the Thwaites estate to 400, moving into previously untapped markets in the Midlands and strengthening its presence in Yorkshire and Derbyshire. It follows on from the £7m purchase of nine managed houses in the West Midlands from Bass in 2000.
Thwaites managing director Paul Baker said: "The acquisition fits our long-term strategy for expanding our trading estate with top-class community houses in new regions. We have a policy of adding new pubs at the top end and these fit the bill perfectly."
Bill McCosh, chairman of Tom Cobleigh, which owns 75 pubs, predominantly in the Midlands, said the division had not fitted into the company's strategy of developing its managed pubs and was "satisfied" with the deal.
"It was never our strategic plan to focus on our tenanted pubs," he said. "We'll use the money to accelerate our development programme and acquire new units."
