Capital Pub Company adds to estate
London-based Capital Pub Company has acquired Terisco — owner of the Bishop pub in East Dulwich.
Capital paid £400,000 for the company, which had a turnover of £1.3m and earnings before interest, tax, depreciation and amoritisation of £125,000 for the year to 28 February.
There is an earn-out consideration of up to a maximum of £350,000 subject to the pub's performance over the next year.
The Bishop is a leasehold pub with 11 years left to run and brings Capital's estate to 25. The deal will be completed on 1 April.
Capital also reported that trade had "held up well" with results in line with expectations for the year — full results will be reported at the end of June.
"The acquisition of The Bishop is in line with our stated strategy of operating high quality
individual pubs in London," said Capital chief executive Clive Watson.
"It is a well known establishment in its vicinity and situated close to one of our other pubs, The Florence in Herne Hill. Our portfolio of pubs continue to trade well in what remains a resilient London market."
