Walsh looks for 500-pub package

Pub entrepreneur Jim Walsh is scouring the market for pub packages and could go as high as a 500-outlet deal.

Speaking exclusively to thePublican.com the founder of Commer Group said raising the cash for such a deal would not be a problem and any transaction would be supported by an equity partner.

The Commer Group recently sold its entire 75-strong pub estate to Punch Pub Company in a deal valued at £19m.

Mr Walsh said the new business, named the Tadcaster Pub Company, will focus on bigger tenanted outlets with higher sales than the 75 pubs sold. He initially plans to build a new company comprising up to 50 pubs inside two years. He has agreed contracts on seven pubs and is currently at various stages of negotiations on a further eight.

But Mr Walsh said that if the opportunity is right he could go as high as 500 pubs. Mr Walsh said the company could raise up to £40m in a mixture of cash and debt and any deals beyond that value would be done through a venture capital partner

The Commer Group still has Nucleus, its data consultancy joint venture with Kunick, the amusement machine group, and Mr Walsh said it would look for more partnership opportunities.

"We now have the flexibility to get involved in joint ventures," he said. "We are now seeing more and more opportunities in the trade.

Related stories:​

Second Coming for Commer Group (15 February 2002)

Commer Group sells estate for £19m to Punch (30 November 2001)