Capital Pub Company, the London pub operator, is set to buy Tomahawk, a rival pub group, for £5.03m in cash, reports the Publican.
The pubs had been run by Geronimo Inns, and this arrangement has now been terminated. Staff at both pubs will transfer into the employment of Capital, the group said today.
Capital said that for the 44 week period to May 2, 2010, the combined turnover of Tomahawk's two pubs was £2.1m, versus £1.9m in 2009. Earnings before interest, tax, depreciation and amortisation (EBITDA) rose from £404,649 to £551,854.
James Bruxner, Capital’s chairman, said his company had been actively seeking to grow the business through the acquisition of further freehold pubs.
No comments:
Post a Comment