Acquisitions would be under a different venture to Moorhouse’s, which operates six pubs. “I have funding in place for the right deal.
“That could be five pubs, that could be 15 pubs, but there’s funding available to do that — that’s through shareholders and stakeholders.”
Grant told M&C Report he did not have a figure for the amount of money that’s available. “If somebody came to me and said there’s an estate, and it’s £10m, we would look at the deal.”
Asked if the venture could grow to a 20 or 30-site operation, Grant said: “I suppose it could be. You never say never.”
He said he admired the acquisition of North Yorkshire-based Market Town Taverns by Heron & Brearley, the Isle of Man’s biggest hospitality operator, for an undisclosed sum in 2011.
Grant said the “market is still not there for us” regarding single-site acquisitions, with freehold prices “still quite high” and leaseholds often too expensive.
Moorhouse’s saw turnover rise 18% to £4.5m in the 12 months to March 2013 and is selling more than five million pints per year. That came two years after opening its £4.2m brewery, which trebled production capacity to more than 1,000 barrels per week.
Moorhouse’s hopes to have turnover of £7m by 2015.