Young's set to buy Geronimo this week

13 December 2010 by
Young's set to buy Geronimo this week

Pub firm Geronimo looks set to be sold to London-based Young's this week.

Young's indicated at the start of December that it was interested in acquiring the 28-strong pub firm, built up by Rupert (pictured) and Jo Clevely, before Christmas but warned there was "no certainty any transaction would be concluded".

That move followed speculation that Geronimo's controlling shareholder, Penta Capital, was looking to cash out. Rupert Clevely is expected to take a seat on the board in any tie-up between the two firms, with Geronimo being moved into the larger company's managed division.

A source told Caterer that a deal was expected to go through this week.

Geronimo is thought to be valued at between £60m and £70m.

A spokeswoman for Geronimo declined to comment on the timing of any deal, while Young's was unavailable for comment.

Geronimo buys first City pub >>

Geronimo Inns boosts annual sales by 26% after buying four pubs >>

Young's profits rise thanks to hotels focus >>

By Neil Gerrard

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