Brewer and pub operator Wells & Co plans to move its acquisition budget for new sites to projects in France, the Financial Times reports today.
Wells & Co’s Brewpoint base in Bedford
Chief executive Peter Wells said the company had been working on a UK acquisition, with a finacial institution “happy to help us up to £10m”, but this was on on hold.
Wells & Co is also introducing a 12-month freeze on hiring, following the Budget.
The family business has some 150 UK pubs, which account for 80% of the turnover. Mr Wells said the Budget measures would add an extra £700,000 to the company’s bills.
