Further growth for Faucet

Faucet Inn, the London and south-east multiple headed by Steve Cox, is planning further acquisitions and is to open its first new-build sites before the end of the year.

The 24-strong group, which agreed to acquire the Warrington in London's Maida Vale from Gordon Ramsay and Chris Hutcheson, will open two new-build sites in Hampton Hill and near Southampton over the next four months.

Cox said that the company was always looking at further expansion and a couple of locations in residential areas had become available, which allowed it the opportunity for new-build sites.

He also said that the privately-funded company had a couple of further deals lined up that were currently "limping through legals". The deal for the Warrington, which will become the group's 25th site, is expected to complete on 23 August.

Cox said: "We've had a strong year in terms of performance and we remain acquisitive and continue to seek the right opportunities to grow."

On the back of Young's acquisition of Geronimo Inns, Greene King's purchase of Realpubs and its agreed deal for Capital Pub Company, Cox said that the London pubs market remained "very interesting". He said: "We have looked at opportunities and I am sure we have been looked at ourselves."

Cox also confirmed that Peter Carr, former managing director of Debenhams, had taken up the role of chairman at the company.