Award winning St Austell Brewery has announced further investment in its estate with the purchase of a Somerset pub and a Cornish hotel, adding to the growing company’s property portfolio across the South West.
With the two new sites, the leading brewer and drinks wholesaler will now own and manage 170 inns and hotels across Devon, Cornwall and Somerset. The acquisitions follow the company reporting a 10 per cent increase in annual turnover to £116.6 million and a 7.4 per cent increase in EBITDA (earnings before interest, taxes, depreciation and amortisation) to £13.8 million in the year ended 28 December 2013.
St Austell Brewery has exchanged contracts on The Windwhistle Inn at Cricket St Thomas near Chard in Somerset, with completion due at the end of June. This busy, food-led pub will be run as a tenancy, with the brewery currently in the process of agreeing tenants.
The brewery has also bought The Port Gaverne Hotel in Port Isaac, as previously advised by H & C News. The hotel will become part of the brewery’s tenanted estate with landlords David and Jackie Barnard from the Molesworth Arms taking a second tenancy on the site.
Growth in Bristol and Somerset
St Austell Brewery’s estate director Adam Luck said: “The Port Gaverne Hotel enjoys a stunning position in a secluded cove, and will be a valuable addition to our portfolio. We are also very pleased to have acquired The Windwhistle Inn as the pub is in a fantastic location just 20 minutes from Taunton and close to the popular Jurassic coast.”
The acquisition of The Windwhistle follows continued growth in Bristol and Somerset which is being supported by strong sales of its award-winning Tribute and Proper Job beers. The Brewery also assigns some of this success to its sponsorship of Somerset and Gloucestershire County Cricket Clubs, which both started in 2013.
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