Brakspear’s acquisition programme continues with the purchase of a further two pubs. The new additions take the number of pubs acquired over the summer to five and the total Brakspear estate up to 146.
The new sites are: the Star & Eagle in Goudhurst, Kent, a pub restaurant with letting rooms, and the William Bray, a contemporary bar and restaurant in the picturesque village of Shere, Surrey.
At the same time, J T Davies & Sons, Brakspear’s parent company, reported a 5% uplift in turnover to £15.3 million in the year ending 31 December 2011, helping operating profit increase 14% to £4.1m. Pre-tax profits grew to £2.6m.
The figures reflect improved performance across the Brakspear estate, thanks to significant investment in pub refurbishments and in bolstering support for tenants through a new mystery customer scheme and enhanced support from BDMs and from the marketing and finance functions at head office.
Savings achieved through a streamlining of Brakspear’s management and head office functions were reinvested into pub improvements, and into the purchase of the new sites.
Chief executive Tom Davies said, “2011 was a year of laying foundations for the growth that we are pushing forward this year. We believe we already have the best tenanted-only estate in the business and now we are bringing more great pubs with talented retailers into it through our acquisition programme.
“We’re looking forward to working with our new business partners and to strengthening the support we offer to them and to our existing estate, to ensure that all pubs trading under the Brakspear name deliver healthy returns to everyone involved.”
Caption: the Star & Eagle in Goudhurst, Kent, one of the recent acquisitions by Brakspear
Notes to editors:
· Brakspear as it exists today was formed in 2006 when the Brakspear family sold its interest in the company’s 100+ pubs to JT Davies, who owned 50 pubs. Most of the 146 pubs in the combined estate are now branded Brakspear and sell Brakspear beers. The Davies family is closely involved in running the business.
· The company’s heartland is in and around Henley-on-Thames, Reading, Berkshire, Oxfordshire, Middlesex and up the M4 corridor into London, with a number of sites in and around the City. The estate’s furthest reaches are Northampton to the north, Chichester to the south, Dover to the east and Salisbury to the west.
Issued on behalf of: Brakspear
By: ShielPorter Communications
Further information: Ros Shiel