The Peach Pub Company has acquired its twentieth pub, Boulters Lock in Berkshire and successfully relaunched two others as it continues to build the business and eye the future with renewed confidence.
Boulters Lock, a fantastic pub restaurant with huge potential on top of a lock on the River Thames has been acquired by Peach for £350,000. The company will be redeveloping it later this year. When Peach took it over, the business was turning over £20k net a week; with Peach at the helm, sales have now risen to an average of £30k net a week, as Peach MD Hamish Stoddart explains:
“We have brought another stunning pub into the Peach portfolio, taking it over smoothly with many of the existing, established team joining the Peach family,” says Hamish. “No Peach magic has been applied to the pub yet; plans are being readied in July and we are looking forward to investing a further half a million pounds or more to achieve our dream of making Boulters Lock into a £2-3 million turnover pub,” he says.
In February of this year, Peach added another classic country pub, The Bear & Ragged Staff in the village of Cumnor, Oxfordshire, to its growing group. Peach invested £320k in the fast and furious refurbishment of the business, immediately seeing weekly net sales rise from £17k when it took over to £25k now.
Peach has also refurbished Brookmans in Brookmans Park, Hertfordshire, spending £340k to give the pub a more contemporary, aspirational look. This, together with menu innovations such as designing a great gastro pizza offer which has been a big success, has added £8k a week to the pub’s turnover.
“After a busy and successful first quarter, we are all set for more of the same,” says Hamish. “The three B’s are all going well, the sun – thankfully – is shining – and it’s all Peachy here.”