The Caterer

Ultimate makes moves for Revolution bars

03 November 2005
Ultimate makes moves for Revolution bars

Ultimate Leisure, the North-east-based bar, nightclub and hotel operator has made an approach to buy vodka bar chain Revolution.

The offer for Revolution owner Inventive Leisure is thought to value the company at £50m, including debt, or 170p per share.

"Ultimate confirms that it made a preliminary indicative approach to the independent committee of directors so that it could evaluate a possible offer for Inventive," the company said in a statement.

"To date no information has been received. There can be no certainty that any offer will be forthcoming or as to the terms of any such offer."

Yesterday, Inventive chairman John Green, said takeover talks were still continuing but "no formal agreement has been entered into". He added that a further announcement will be made in due course.

By Jessica Gunn

Inventive takeover talks still in progress >>

Get your copy of Caterer and Hotelkeeper every week - click here to subscribe and save 25%.

Sudoku Join the craze and play Sudoku online!
The Caterer Breakfast Briefing Email

Start the working day with The Caterer’s free breakfast briefing email

Sign Up and manage your preferences below

Thank you

You have successfully signed up for the Caterer Breakfast Briefing Email and will hear from us soon!