The rapid growth of London’s Urban Pubs & Bars (UPB), founded in 2014 by Malc Heap & Nick Pring, is continuing with the acquisition of 11 new sites.
The Wheatsheaf, in Tooting, one of Urban Pubs & Bars’ flagship pubs
It has announced the acquisition of eight trading leasehold businesses and three vacant freehold sites from the administrators of Elflock Ltd, Babel Silk Ltd, Brocade Ltd, and De Gremio Ld.
The leisure group, which already operates 44 pubs, bars, and restaurants across London, has assumed control of these sites with immediate effect.
The iconic London pubs that have been acquired are spread across the capital and include The East Dulwich Tavern, in East Dulwich, The Antelope, in Tooting, and The Sun, in Camberwell.
“The transaction demonstrates the opportunity that exists in the market for successful operators to acquire quality assets as part of their ongoing growth strategies,” said Sam Birchall, head of special situations M&A at business advisor Interpath.
Steve Absolom, managing director at Interpath and joint administrator, said: “This eclectic group of popular pubs and bars have traded well since our appointment just over seven weeks ago and buyer interest has been extremely strong.
“We are delighted that we have been able to secure this transaction with Urban Pubs & Bars and importantly safeguard the jobs for their loyal and hard working employees.”
Last month UPB announced the acquisition of two new sites, including The Herne Tavern, in East Dulwich, and The Gun, in Spitalfields.
UPB managing director, Chris Hill, said: “We are delighted to be acquiring these fantastic pubs — and we can’t wait to bring them into the Urban family.
“Like so many existing corners of UPB, these newly acquired sites are iconic in so many individual ways, and we can’t wait to work with our new colleagues to realise the full potential of them, and their brilliant businesses.
The UPB Group, includes flagship pubs The Wheatsheaf, Tooting, The Gatehouse, Highgate, Bat & Ball Stratford, and recently opened The Red Setter, in Battersea, and The Victory, at Waterloo.
