McManus Pub Co sails off with Estuary Pub Company

From The Publican

06-Jun-2008

Related topics: Company & City News

McManus Pub Company, the Northampton-based operator has acquired full control of the six-site Estuary Pub Company after buying the outstanding 50 per cent third party-held shares to add to its existing 50 per cent holding.

 

The deal was supported through £3m of debt finance from NatWest.

 

McManus Pub Company was established in 1970 by the parents of the current boss of the group, Gary McManus.

 

It operates 22 pubs including traditional town centre bars, community 'locals' and food-led pubs in and around Northampton.

 

Full ownership of Estuary Pub Company will bring its six pubs in the Southend-on-Sea area directly within its control.

 

Gary McManus said: "Obtaining full ownership of Estuary is a good fit with our aspirations for future growth through our 'pub offer' of competitive prices, good locations and a mix of venues that appeal to a wide range of customers.

 

"Our long term relationship with NatWest has been a key feature for the successful conclusion of this transaction."

 

Craig Smith, manager, commercial banking at NatWest in Northampton added:

 

"The business has a history of successful trading extending over 30 years. There is a capable management team who have built a strong regional reputation for quality of offering in a challenging market place.

 

"Through acquiring a full share holding in Estuary, the company will be able to continue with its strategy of expanding its pub Estate and improving market share."

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