Fuller's buys three Mitchells & Butlers pubs

London-based brewer and pub company Fuller's has just bought three London pubs from Mitchells & Butlers (M&B) in a deal apparently worth £8m.

The pubs are the Anglers at Teddington Lock, the Flask in Highgate and the Red Lion in St James. It is expected that contracts will be exchanged in early February. The three pubs will be run as managed houses.

Simon Emeny, managing director of Fuller's Inns, said: "The purchase of these three terrific pubs highlights Fuller's long term commitment to adding to our estate.

"I am delighted that we have been able to acquire these three beautiful sites. I have personally admired them all for a long time and am excited by the prospect of adding them to the Fuller's estate."

The Red Lion in the West End is famous for its historic interior of carved mahogany panels and etched glass. The Anglers has an extensive riverside garden.

The purchase brings the total number of pubs in Fuller's estate to 360.

The sale comes after M&B acquired 40 pub restaurants owned by Whitbread in exchange for 20 of its Express by Holiday Inns in the summer. A spokeswoman said that the pub company was continuing its strategy of focusing on large, food-led venues.

"We have a stated policy of disposing of gold brick properties," she said, "which are valuable because of their location, but for us a bit on the small side. Our focus is very much on big, residential pubs capable of servicing high volumes of food. We had a very attractive offer from Fuller's so the sale made sense."

She added that more disposals are likely. "We have a strategy that we are looking to make disposals. It is something we want to do," she said.