Butcombe Brewery has completed the freehold purchase of Cheltenham’s oldest building in a deal which sees it acquire its 23rd UK site.
The Old Restoration, on Cheltenham’s High Street, will operate within Butcombe’s managed estate. The 15th century pub is Cheltenham’s oldest. It is thought that the landlord in changed the name around 1660 in honour of the restoration of King Charles II to the throne of England.
The purchase follows the brewer’s acquisition of The Pelican Inn, Chew Magna, and The Charlton Inn, Shepton Mallet, earlier in the month, which kick-started a strategic growth plan that could see up to 20 pubs a year joining the Butcombe family over the next five years.
The Old Restoration is the brewer’s second outlet in Cheltenham — it also owns the atmospheric Frog and Fiddle, acquired in 2011. Showing all major sporting events, the outlet saw 2015 bring record sales for the outlet.
Butcombe Brewery’s pub operations manager, Charlotte Close, said: “The Old Restoration is a fantastic addition to our portfolio in a great city. We will be fully refurbishing the site in the coming months and plan to introduce a premium casual dining concept driven by our great range of beers and craft ales.
“The building itself has a wonderful character which reflects the Butcombe brand perfectly. We can’t wait to see the output of another successful transformation following our investment.”
Mark Crowther, chief executive of parent company Liberation Group, said: “It’s no secret we’re looking to grow the Butcombe business, both organically and through acquisition. Following the positive news of our refinancing earlier in the month, it’s fantastic to welcome another great site into our business as part of our ambition to become the leading brewer and pub operator in the West Country.”
