S&NPE snaps up 14 sites
Scottish & Newcastle Pub Enterprises (S&NPE) has bought 14 pubs as part of two packages of tenanted outlets for an undisclosed sum.
The group has acquired the pubs from Tuns Tavern and the Progressive Pub Company and brings its total estate to more than 2,150.
The Tuns Taverns package was purchased in an off market deal, comprising 10 pubs in village and suburban locations across Shropshire and the Welsh borders.
Andrew Cannons, S&NPE's acquisition's director, said: "It is an excellent geographic fit for us as we are under represented in the area."
Cannons said the pubs were "a strong set of well maintained businesses with solid income streams".
The Progressive Pub Company purchase consists of four of the company's pubs spread across the North West and North East.
S&NPE said all the outlets are popular community locals with good beer volumes and it sees the potential to grow income streams by working with the tenants.
"We are confident the pubs will provide reliable returns on investment," Cannons added.
He said the company is looking for further small multiple freehold packages across the country, but is particularly interested in community and traditional pubs in suburban, village and canal-side locations.
