Portobello snaps up former Antic pubs

By Ed Bedington contact

- Last updated on GMT

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Related tags: Pubs, Finance, Property, Mergers and acquisitions

Portobello Brewery has announced the acquisition of 12 freehold pubs it had been managing across the London area.

Working in partnership with Zetland Capital to create an acquisition platform called Portobello Starboard, the company has acquired the pubs from a range of sources, including the former Antic sites, all of which were backed by investment fund Downing LLP. The move takes the Portobello estate to 16 sites.

The company, under the leadership of executive chairman Mark Crowther, had been managing the sites for the past year.

Zetland Capital is providing equity funding for the acquisition and will provide further financial support, as the business looks to grow through acquisitions across London and the south of England.

Among the sites is the flagship Westow House in Crystal Palace, which has recently added 22 en-suite bedrooms, along with other pubs in locations including Forest Gate, Peckham, New Cross, Sutton and Brixton.

Crowther said: “We are delighted to have completed this acquisition and to partner with Zetland Capital. Zetland’s backing will enable us to invest in these great pubs and our fantastic teams, supporting the recovery and to acquire further pubs in the South of England.”

Ahmed Hamdani, managing partner at Zetland, added: “We are excited to have made this acquisition of a high quality and well-located portfolio of pubs. We are partnering with a highly experienced team, led by Mark, and will back them, with substantial investment, to grow Portobello into one of the leading pub businesses in Southern England.”

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