Following recent press speculation, Oakman Inns & Restaurants Ltd has confirmed that they have agreed terms with the key parties to take over The Lazy Cow in Warwick.
Oakman Inns’ CEO, Peter Borg-Neal, commented: “We have held long discussions with Urban & Country Leisure (UCL) and the site’s freeholder, Downing Capital, and I am delighted to say that we have agreed terms in principal and are close to signing contracts.”
The Lazy Cow opened in October 2010 following a £1.5 million investment into the former Globe Hotel and has performed strongly ever since under the direction of UCL’s Managing Director, Ross Sanders. So successful was the Warwick site that UCL expanded the brand into Salisbury, Solihull and Stratford-upon-Avon.
Perfect fit
Borg-Neal added: “Warwick is a great town with a superb reputation as a thriving county capital with a huge programme of Community activities and engagement and we have admired this site for a long time. Part of The Lazy Cow’s success is down to the great hard-working team employed there and we believe the operation and its staff will prove a perfect fit for the Oakman portfolio. Our recent new openings are performing well and a high quality acquisition of this nature will build on that momentum.”
Borg-Neal also indicated that they are considering changing the name back to its historical title, The Globe Inn, before inviting the people of Warwick to have their say in its long term name. They also intend using a large number of local suppliers such as the highly renowned Aubrey Allen of Leamington Spa who already supply meat to all Oakman Inns in line with their sustainable restaurant policies.
3 openings before June
Borg-Neal also said: “All current employees should be reassured that, if and when the deal completes, there will be no redundancies and they will simply transfer their jobs into our employment. We also hope that some of them will want to join our management training schemes and to develop careers within our company which is planning to open three further operations before June 2015.”
Apart from its reputation for caring about the environment and local communities (all Oakman Inns have achieved Two Star accreditation from The Sustainable Restaurants Association).Oakman Inns is considered to be one of the best employers in the UK and is to be listed in The Sunday Times 100 Best Companies to Work For 2015.
About Oakman Inns & Restaurants Ltd
Oakman Inns & Restaurants Ltd has, over the last eight years, become synonymous with a new concept of modern public house, offering high standards of food, drink and service within a contemporary, relaxed and comfortable atmosphere. In a unique blend of the modern and the traditional, Oakman venues retain a strong sense of identity and integration within the local community as well as raising the standards for Sustainability and Employment.
The first Oakman Inn, The Akeman in Tring, opened in December 2007. It was an instant success and has continued to grow over the years. The full Oakman house list:
- The Akeman in Tring – December 2007
- The Old Post Office, Wallingford – February 2009
- The Red Lion in Water End – November 2009
- The Kings Arms in Berkhamsted – December 2010
- The Blue Boar, Witney – December 2011
- The Beech House, Beaconsfield – April 2013
- The Crown & Thistle, Abingdon-on-Thames – November 2013
- The Beech House, St Albans – September 2014
- The Akeman Inn, Kingswood – November 2014
- The Navigation Inn, Cosgrove – opens April 2015
- The White Hart, Ampthill – opens May 2015
- The Kings Head, Chipping Ongar – opens May 2015
For more information click here