Peach Pub Company secures 11th site

Peach Pub Company has secured its eleventh site and launched a search for its next joint-venture partner.

The company will open its second Almanack in Leicester in October after signing a deal with Hammerson at the retail property developer's Highcross leisure development.

The site will have an 80-seat restaurant with additional space for eating at the bar, as well as a private dining room with its own bar for a further 60.

It will only be the company's second new-build pub after the original Almanack opened in Kenilworth, Warwickshire last year.

Peach co-founders Lee Cash and Hamish Stoddart are also looking for their fourth joint-venture partner to invest in the company, which is continuing to expand despite the recession.

"It's a fantastic opportunity for someone with lot of hands-on operational experience and flair to run their own business and — importantly get a real share in the success they create," Cash said.

"And it won't stop with the one site; we're looking for someone who can take on two or three great Peach pubs in time and really build a profitable business as our partner." Peach has appointed recruitment firm Cartwheel to run the process with a deadline of 19 June for applications.

Candidates must have solid operational experience in a profitable restaurant, hotel or pub environment, along with a drive to create their own successful business.

In April, Peach acquired the freeholds of two of its pubs from Punch Taverns for £2.85m as part of plans to double its estate.

The purchase of the freeholds of the Rose & Crown in Warwick and the Swan in Salfordurned Peach into a majority free-of-tie operator. The company plans to more than double its portfolio to reach 22 or 23 pubs and to change the estate from being food-led to 50:50 wet and dry.