REG-Fuller, Smith & Turner PLC Fuller, Smith & Turner PLC: Acquisition of Lovely Pubs

Fuller Smith & TurnerAnnouncement

06/08/2024 14:00

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   Fuller, Smith & Turner PLC (FSTA)
   Fuller, Smith & Turner PLC: Acquisition of Lovely Pubs

   06-Aug-2024 / 13:53 GMT/BST

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   6 August 2024

                         FULLER, SMITH & TURNER P.L.C.

                           Acquisition of Lovely Pubs

                                        

   Fuller, Smith & Turner P.L.C. (“Fuller’s” or “the Company”), the premium
   pubs and hotels business, today announces it has completed the purchase of
   Lovely Pubs, a collection of seven fantastic pubs in Warwickshire, six of
   which are freehold, for a total consideration of £22.5 million.

    

   The pubs, which include one with 16 boutique bedrooms, are a highly
   complementary addition to Fuller’s existing portfolio of pubs and hotels
   in neighbouring counties. They align perfectly with the Company’s vision
   and strategy, offering outstanding service and a premium food and drink
   offer.

    

   In the last reported financial year, the group being acquired generated
   EBITDA of £3.1 million. The acquisition is expected to be earnings
   enhancing in the first full year and will be funded from existing banking
   facilities. CBRE acted as advisors on the deal.

    

   Chief Executive Simon Emeny said: “I’m delighted to be announcing the
   acquisition of Lovely Pubs. These seven outstanding sites are a perfect
   fit with our existing estate both in terms of their premium operational
   style and their geographical location. We are looking forward to welcoming
   these pubs, and their teams, to the Fuller’s family.”

    

                                    - Ends –

    

   For further information, please contact:

    

   Fuller, Smith & Turner P.L.C.

   Simon Emeny, Chief Executive (press)  020 8996 2000

   Neil Smith, Finance Director (analysts)  020 8996 2000

   Georgina Wald, Corporate Comms Manager               020 8996 2198

    

   Instinctif Partners

   Justine Warren     020 7457 2010

    

    

   Notes to Editors:

   Fuller, Smith & Turner PLC is the premium pubs and hotels business that is
   famous for beautiful and inviting pubs with delicious fresh food, a
   vibrant and interesting range of drinks, and engaging service from
   passionate people. Our purpose in life is to create experiences that
   nourish the soul. Fuller’s has 185 managed businesses, with 1,025 boutique
   bedrooms, and 154 Tenanted Inns. The Fuller’s pub estate stretches from
   Brighton to Birmingham and from Bristol to the Greenwich Peninsula. Our
   Managed Pubs and Hotels include Cotswold Inns & Hotels – seven stunning
   hotels in the Cotswolds, and Bel & The Dragon – six exquisite modern
   English inns with boutique rooms located in the Home Counties. In summary,
   Fuller’s is the home of great pubs, outstanding hospitality and passionate
   people, where everyone is welcome and leaves that little bit happier than
   they arrived.

    

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   Dissemination of a Regulatory Announcement that contains inside
   information in accordance with the Market Abuse Regulation (MAR),
   transmitted by EQS Group.
   The issuer is solely responsible for the content of this announcement.

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   ISIN:           GB00B1YPC344
   Category Code:  ACQ
   TIDM:           FSTA
   LEI Code:       213800C7ACOFMRCQQW76
   OAM Categories: 2.2. Inside information
   Sequence No.:   338911
   EQS News ID:    1962207


    
   End of Announcement EQS News Service

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