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Article: More grist to the Mill; PUBS: Punch Taverns swoops for rival chain.(Business)
- Article from:
- Birmingham Mail (England)
- Article date:
- September 15, 2006
CopyrightCOPYRIGHT 2006 Birmingham Post & Mail Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: By Jon Griffin
MIDLAND-based Punch Taverns raised a glass to a further round of expansion after snapping up 82 new managed pubs in a pounds 160 million plus deal.
The group, which has its headquarters in Burton-on-Trent, announced it had bought Gloucester-based Mill House Inns. It will pay pounds 169 million cash for the company, including the assumption of pounds 5 million in cash on completion.
Mill House Inns, a private company, operates a neighbourhood pub estate of 82 outlets located throughout the South of England and the Midlands.
West Midland pubs involved in the deal include the Mill House, Wednesfield, the Mill House, Stechford, the Nags ...