Sports Bar & Grill rejects JDW acquisition bid

By Rob Willock

- Last updated on GMT

High-powered: David Evans and ops director Jane White
High-powered: David Evans and ops director Jane White

Related tags Rugby world cup

Bar Holdings – the company behind the Sports Bar & Grill chain – rejected an acquisition bid from JD Wetherspoon earlier this month that initially valued the estate of seven London sites at more than £17m.

The Publican's Morning Advertiser​'s sister title M&C Report​ understands that there has been significant interest in the Sports Bar & Grill-branded business (not including the Fitzrovia Belle on Tottenham Court Road) and several potential buyers recently emerged.

Wetherspoon's led the field with a bid of circa £15m (for Marylebone, Victoria, Farringdon, Waterloo, Piccadilly and Canary Wharf Crossrail – which opens in May). But sources suggested it reduced its offer by £4m one day ahead of completion – and the deal collapsed as a result.

Record sales

Bar Holdings announced last month that all its sites achieved record sales in 2014 - its sixth year of trading. Owner and managing director David Evans said in January: “Management accounts show net sales for Farringdon of £1.4m, Victoria of £1.6m, Marylebone of £1.8m and the mightily impressive Waterloo at a whopping £2.1m – a 17.4% increase on 2013.”

He added: “All bodes well for a very exciting 2015 with the Cricket World Cup, The Ashes, the Rugby World Cup and the Women’s football World Cup the highlights of a halcyon sporting year ahead. It proves that as a brand Sports Bar & Grill has grown and matured as the ‘go to’ restaurant and bar to eat, drink and watch sport.”

Evans was unavailable for comment on Wetherspoons’ interest, but it is understood that he and operations director Jane White are now fully refocused on growing the business, including the Canary Wharf site, and participation in a tender process for a unit at Abu Dhabi airport.

Related topics JD Wetherspoon

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