North East pub owner toasts acquisition of third Yorkshire inn
A North East inn operator has announced that it has acquired a third Yorkshire pub venue in its second transaction this month.
The Inn Collection Group has added Whitby venue The Stables at Crossbutts to its estate, which now consists of 17 inns.
The undisclosed deal will grow the group’s brand in Yorkshire, where the north of England pubco already owns freehold sites The King’s Head Inn at Newton-under-Roseberry and The Black Swan at Helmsley.
The addition of The Stables is the group’s sixth purchase of the year as part of its ‘buy and build’ strategic growth plans, supported with banking via OakNorth.
The Stables will continue trading in its current operating format securing the jobs of all employees there.
Sean Donkin, managing director of The Inn Collection Group, commented: “Whitby has been in our sights for a number of years and we’ve been excited by the opportunities generated by this superb site and its operators for a considerable time.
“2020 was mapped as a year of strategic growth for the group and despite the continued hurdles of Covid-19, we are on track to expand the estate as we grow our presence across the north of England in quality locations with potential to deliver high-yielding, sustainable results.”
The Inn Collection Group were advised by Newcastle-based law firm Ward Hadaway on the transactions, with Silverstone on pre-acquisition diligence.
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