Wed, 19 Oct 2022 | BUSINESS SALE
Premium pub chain Peach Pub Company has been acquired by Revolution Bars Group in a deal worth £16.5 million. The deal represents a multiple of around 11.2x Peach’s £1.47 million gross profits for the year ending January 2 2022. In that period, the company generated turnover of £4.2 million and made a post-tax profit of £385,432.
Peach Pub Company has 21 leasehold pubs located across the South of England and the Midlands, with locations spanning Oxfordshire, Warwickshire, Berkshire, Buckinghamshire and Hertfordshire. The company also offers premium accommodation, with over 80 bedrooms across its sites.
Revolution, which operates 69 UK bars under brands including Revolution and Revolucion de Cuba, has described the deal as “transformative”, enabling the firm to tap into an affluent customer base and establishing its presence in the UK’s premium accommodation market.
Following the acquisition, the combined business is expected to benefit significantly from the diversification that Peach will deliver and be highly growth-oriented. According to Revolution, Peach’s strong daytime and early week trading will provide balance with the core group’s focus on evenings and weekends, while its presence outside city and town centres will balance the locations of Revolution’s portfolio.
Rob Pitcher, Chief Executive of Revolution Bars Group, commented: "This is an exciting and transformative opportunity for Revolution. It broadens our guest base, balances our day part sales and seasonality whilst providing another avenue for growth both organically and by acquisition.”
"Peach is a quality business with great pubs offering a premium experience. It has rebounded strongly from the dark days of the pandemic. Central to this success has been a strong people focused culture with clear values that are focused on making the right choices for guests and our teams, a very similar approach to that taken at Revolution."
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