Vine Acquisitions Limited, backed by Patron Capital and May Capital, has acquired the 54-strong Laine Pub Company for an undisclosed sum.
Laine will continue to be run by its existing management team. It currently manages 21 independent pubs in London, 33 in Brighton and four Mash Inns in partnership with the Ei Group. In August last year Laine acquired the New Pub Company for around £4m, adding six sites to its portfolio.
Co-founder and chief executive of Laine, Gavin George, will lead the team. He previously led a management buyout of Laine backed by ICG Enterprise Trust and Risk Capital Partners in 2014; however, the deal with Vine sees both these investors exit completely.
Vine Acquisitions acquired Punch Taverns in August 2017 and owns 1,300 pubs across the UK.
Stephen Green, senior partner of Patron Capital and director of Vine Acquisitions Limited, said: "Laine's portfolio of pubs in London and Brighton is totally unique. The energy and passion of the Laine team, and all of the management partners, are at the heart of their success, and we look forward to helping support the future growth of this fantastic business. We also believe Laine's craft beers have tremendous potential."
George added: "We are delighted to be partnering with Vine Acquisitions, Patron Capital and May Capital on the next stage of Laine's journey. With their support, we will be continuing to invest in our pubs and our management partners, and we have exciting plans to take our fantastic portfolio of beers to the next level."
Laine Brew Co produces craft beers including Source, Ripper, and Word, which are all brewed at Laine's custom-built, modern brewery. It also operates a Brew Lab at the People's Park Tavern in Hackney, and additional brewpubs in Clapham Junction (the Four Thieves) and Brighton (the North Laine Brewhouse).