Birmingham-based business Town & Country Inns has sold the leasehold interests of its two of its Après Bars to Walkabout operator Intertain in an off-market deal for an undisclosed sum.
Around £1m will be invested in the refurbishment of the sites in Solihull and Lichfield before they reopen as Walkabouts in September, in time for the Rugby World Cup.
The proceeds generated from the sale is expected to be used by Town & Country to further develop its Fleet Street Kitchen brand (pictured).
Mark Jones, managing director at Town & Country, described the Fleet Street Kitchen brand as "the jewel in our crown" and added that the business is aiming at rolling out six new venues over the next three years.
Simon Chaplin, director of corporate pubs and restaurants at property adviser Christie + Co, which managed the sale, said: "The two Après Bars were sold in an off-market deal to Intertain as we recognised they would be an ideal fit for their new style Walkabouts.
"As a result, we now look forward to working closely with Town & Country on its own expansion programme and development of the Fleet Street Kitchen brand in the West Midlands and further afield."
The company will retain Après Bars in Cheltenham and Sutton Coldfield, which continue to trade successfully.
John Leslie, chief executive at Intertain, commented on the acquisition: "We're very excited to be opening these two new venues. We now have a fantastic platform from which to build for the future.
"Solihull and Litchfield are both great towns and we're looking forward to introducing customers to our ‘new style' Walkabout."
Latest video from The Caterer