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.
This is a unique opportunity to acquire valuable intellectual property assets from a well-established wholesaler with many years of experience in the discount food and non-food sector in the Midlands.
This is an opportunity to acquire a long-established specialist bakery business, supplying major UK supermarkets and boasting a fully equipped production facility with a skilled workforce.
Discover the rare chance to acquire a specialist UK supplier of marine engines and generators, noted for their leadership in the used marine engine market and hard-to-find parts.
17
|
Sep
|
Construction materials firm acquires civil engineering contractor | BUSINESS SALE
Fox Brothers Holdings, a private equity-backed construction ...
17
|
Sep
|
Assets and IP of non-HFSS bakery brand set to be sold in pre-pack deal | ADMINISTRATION
Urban Legend, a healthier sweet bakery brand, is poised to e...
17
|
Sep
|
Regional care home operator expands with double acquisition | BUSINESS SALE
Regional care home operator Maven Healthcare has expanded wi...
17
|
Sep
|
West Midlands manufacturer to target M&A under new CEO | BUSINESS NEWS
PP Control & Automation (PP C&A), a West Midlands-based manu...
17
|
Sep
|
Regional care home operator expands with double acquisition | BUSINESS SALE
Regional care home operator Maven Healthcare has expanded wi...
17
|
Sep
|
Assets and IP of non-HFSS bakery brand set to be sold in pre-pack deal | ADMINISTRATION
Urban Legend, a healthier sweet bakery brand, is poised to e...
Business Sale Report is the complete resource for finding genuine 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.