Fri, 10 Feb 2012 | DIVISION SALE
Pub firm Enterprise Inns has plans to dispose of some of its best performing pubs over the next two years, to assist in refinancing its £400 million of bank debts.
It aims to raise up to £200 million a year by disposing of 200-300 of its pubs. It has a total of 6,200 tenanted pubs.
Enterprise Inns has sold about 1,000 pubs in the past two years. In March 2011, it announced plans to sell off about 400-500 pubs throughout the year to generate about £125 million.
More recently, the firm has sold 15 pubs to Fuller, Smith & Turner for £22.9 million this year.
Enterprise’s chief executive Ted Tuppen commented on the continued sell off to the Financial Times, “It’s a bit of asset management – we have the opportunity to generate a lot of cash by selling a relatively small number of very attractive pubs.”
“We are required to refinance our bank debt by December 2013 and it will be a lot easier to refinance a slightly smaller debt.”
Mr Tuppen founded Enterprise Inns in 1991. Pubs have been suffering in recent years due to rising beer prices, and higher energy bills, but not due to lower customer spending.
Offering for sale the business and assets of Project Pinnacle as a going concern, an independent chain of builders and timber merchants selling to trade professionals and the general public.
The company provides a comprehensive range of multimedia solutions for the wire, cable, tube, pipe and fasteners industries comprising print magazines, digital magazines, websites, digital platforms and social media benefitting from digital advertisi...
An established Irish based engineering business, providing supply, fabrication and erection structural steel solutions to customers across the island of Ireland and Great Britain.
28
|
Mar
|
NI pharmacy group acquires third site | BUSINESS SALE
A family-run community pharmacy group has expanded with the ...
28
|
Mar
|
Vehicle upcycling group falls into administration | ADMINISTRATION
Lunaz Group Limited, a vehicle electrification and upcycling...
28
|
Mar
|
Food service business acquired at more than 10x profits | BUSINESS SALE
Total Foodservice, a wholesale catering supplies business, h...
28
|
Mar
|
Food service business acquired at more than 10x profits | BUSINESS SALE
Total Foodservice, a wholesale catering supplies business, h...
28
|
Mar
|
Vehicle upcycling group falls into administration | ADMINISTRATION
Lunaz Group Limited, a vehicle electrification and upcycling...
28
|
Mar
|
NI pharmacy group acquires third site | BUSINESS SALE
A family-run community pharmacy group has expanded with the ...
Business Sale Report is your complete solution to finding great acquisition opportunities.
Join today to receive:
All this and much more, including the latest M&A news and exclusive resources
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.