REG - Fuller,Smith &Turner - Acquisition of stake in The Stable <Origin Href="QuoteRef">FSTA.L</Origin>

Fuller Smith & TurnerAnnouncement

06/09/2014 02:05

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RNS Number : 2087J
Fuller,Smith&Turner PLC
10 June 2014 
 
10 June 2014 
 
FULLER, SMITH & TURNER P.L.C. 
 
Acquisition of 51% stake in The Stable Pizza & Cider Ltd ("The Stable" or "the
company") 
 
Fuller, Smith & Turner P.L.C., the London brewer and premium pub company, is
delighted to announce that it has acquired a 51% share in The Stable - a craft
cider and pizza restaurant business. 
 
Led by entrepreneurs, Richard and Nikki Cooper, The Stable has six sites
across the South West specialising in gourmet pizzas and a range of 50
different craft ciders. 
 
As part of the partnership, Fuller's will also acquire the freehold of The
Bull Hotel ("The Bull") in Bridport, Dorset. The business started in The Bull,
which the couple purchased in 2006. The hotel - which has 19 boutique bedrooms
- had a stable at the rear, which became the site of the first pizza and cider
restaurant. 
 
Five further restaurants followed in Weymouth, Bristol, Bath, Poole and
Fistral Bay, Newquay and the plan is to expand the business further into the
South of England. Fuller's investment in the company will allow the Coopers to
realise their expansion plans and the business will still run under their
leadership. 
 
Fuller's is investing £7.3 million for the 51% share, as well as the freehold
of The Bull Hotel and there is an option to increase this investment in the
future. It is anticipated that the transaction will be broadly earnings
neutral in the first year. 
 
The Stable has a clear brand proposition which is characterful and distinctive
and provides a unique and complementary addition to Fuller's growing premium
food and drink portfolio. Fuller's expertise of operating in the wider
southern counties, as well as years of experience at multi-site operations,
will help with the roll out of the business. 
 
Ends 
 
For further information, please contact: 
 
 Fuller, Smith & Turner P.L.C.                                           
 Simon Emeny, Chief Executive (press)        020 8996 2175               
 James Douglas, Finance Director (analysts)  020 8996 2000               
 Georgina Wald, Corp Comms Manager           020 8996 2198/07831 299801  
                                                                         
 Instinctif Partners                                                     
 Paul Downes                                 07900 244888                
 Justine Warren                              07785 555692                
 
 
Photography is available from the Fuller's Press Office: pr@fullers.co.uk /
tel 020 8996 2175. 
 
Notes to Editor 
 
Fuller, Smith and Turner P.L.C. is an independent traditional family brewer
founded in 1845 and is based at the historic Griffin Brewery in Chiswick,
London, where brewing has taken place continuously since 1654. The Company
runs 180 Managed Pubs and Hotels and 206 Tenanted pubs, with a focus on
outstanding cask ale, great wine, exemplary service and delicious fresh,
home-cooked food. The Company also has 622 boutique bedrooms in its Managed
estate. Fuller's pub estate stretches from Brighton to Birmingham and from
Portishead to the Greenwich Peninsula, including 168 locations within the
M25. 
 
The Fuller's Beer Company brews a portfolio of premium beers including London
Pride, ESB, Organic Honey Dew and Frontier Craft Lager. In June 2013, the
Company acquired Cornish Orchards, a craft cider maker producing a range of
award-winning ciders and premium soft drinks. Fuller's is also the UK
distributor for Sierra Nevada, the premier US craft beer. 
 
The Stable comprises six restaurants focussing on gourmet pizza and cider that
was founded in 2009 by Richard and Nikki Cooper. The first unit was in a
stable at the rear of the Bull Hotel in Bridport and there are now five other
Stable restaurants in Weymouth, Bath, Bristol, Poole and Fistral Bay, Newquay.
More information is available at The Stable website www.stablepizza.com. 
 
This information is provided by RNS
The company news service from the London Stock Exchange