Roberts joins Watson and Bruce in new pubco ventures

14-Dec-2011 - Last updated on 11-Mar-2017 at 19:18 GMT

New ventures: John Roberts

John Roberts, the former managing director of the Fuller’s Beer Company, has become a founder investor and non-executive director of two new pub companies alongside pub entrepreneurs David Bruce and Clive Watson.

The City Pub Company (East) PLC and The City Pub Company (West) PLC will be funded by two new Enterprise Investment Scheme (EIS).

Each company intends to raise up to £2m of equity during the current tax year and, due to recent changes in the EIS rules, up to £10m each from April 2012.

The new ventures come within months of David Bruce and Clive Watson selling their last business, The Capital Pub Company , to Greene King for an enterprise value of £93m.

Roberts sat on the Fuller, Smith & Turner Board for 15 years, during which time he made a major contribution to the growth of both its beer and retail operations, which included the £92m acquisition of George Gale & Co. He resigned earlier in the year to take on new challenges in the beer and pub industry.

Roberts said “I am delighted to be joining forces with two of the great characters of the pub industry to help them build further value for their investors.

“Their experience and formidable track-record in creating and selling successful pub companies gives us a strong degree of confidence in developing the two The City Pub Companies.”

Watson, who will be CEO, said: “David and I are excited about teaming up again and giving our original EIS investors the opportunity to join us in our latest tax-efficient venture.

“We’re also delighted to have someone of John’s calibre and experience on board to add a fresh perspective to the Boards of both businesses.”