Pub company Charles Wells has acquired four sites from independent group the Orange Tree as it looks to expand its Pizza, Pots & Pints managed pub concept.
The acquisitions bring the number of pubs under the brand to nine. All 82 employees working at the sites in Leicester, Loughborough and Nottingham will be retained.
Chief executive of Charles Wells, Justin Phillimore said: “We are delighted to acquire these four excellent pubs and welcome their teams to the Charles Wells family. It is an exciting time for Charles Wells as we accelerate the growth of our managed house estate in both the UK and France. Our ambition for the Pizza, Pots & Pints format is to grow it by another 15 sites in the next two to three years so acquisitions such as this, with like-minded regionally based multiples, are crucial for accelerating our expansion.”
Gareth Smith, managing director of the Orange Tree Group said: “In Charles Wells all the important boxes were ticked not least their culture and philosophy, which coincides with our own. The plans we know Charles Wells have for these sites provide opportunities for our staff that we could not match. In thanking our staff for their loyalty and support over the years, we wish them and Charles Wells all the best in what we know will be an exciting future.”
The sale was brokered by Davis Coffer Lyons for an undisclosed fee.