Avanti has Slug & Lettuce in its sights

Avanti Capital, which funded the acquisition by Barvest of 28 Po Na Na sites last year, has inquired about adding the Slug & Lettuce chain to its portfolio. The private equity investment group had its approach to buy the chain, part of the SFI Group, turned down because of on-going efforts to refinance and restructure at SFI. The high-street bar group is trading with the support of its banks after a disastrous over-expansion forced it to suspend and then de-list its shares. Po Na Na, which went into receivership last year, was one of the parties interested in buying Slug & Lettuce in 2000. Mentor Inns seeks hosts to build chain A new venture has begun preliminary efforts to recruit a band of experienced pub landlords to develop a small chain of pubs, which it hopes eventually to sell. Slough-based Mentor Inns says it has begun a careful search for about 10 licensees to help build a UK-wide pub chain. Describing itself as a well-funded group, it states that it wants to attract people with at least a five-year proven track record of developing profitable pub businesses. Mentor Inns' promotional material suggests that earnings of £100,000 per annum could be achieved by exceptional hosts who run a tenanted or leasehold house under its aegis. The Mentor Inns' website also holds out to potential participants the prospect of a share in the proceeds of a trade sale at a later stage. Royalist Hotel set to change hands The Royalist Hotel at Stow-on-the-Wold, Gloucestershire ­ said to be Britain's oldest inn ­ has been sold for £1.85m by owners Alan and Georgina Thompson, who are returning to their native Australia. Cheltenham-based restaurateur Peter Rowan has bought the hotel and its adjoining Eagle and Child restaurant, which was re-opened by the Thompsons when they took over in 2000. Previously the Eagle and Child, now renamed the 947AD restaurant, had been closed for 16 years, but the business has been transformed by the Thompsons over the last four years. Alan Thompson, 33, said: "Our overall aim has been good value for money. We've loved Stow." The Thompsons are planning to return to Australia next month.