Acquisition of stake in The Stable

RNS Number : 2087J

Fuller,Smith&Turner PLC

10 June 2014

 



                                                                                                                                                                          10 June 2014

FULLER, SMITH & TURNER P.L.C.

Acquisition of 51% stake in The Stable Pizza & Cider Ltd ("The Stable" or "the company")

Fuller, Smith & Turner P.L.C., the London brewer and premium pub company, is delighted to announce that it has acquired a 51% share in The Stable - a craft cider and pizza restaurant business.

Led by entrepreneurs, Richard and Nikki Cooper, The Stable has six sites across the South West specialising in gourmet pizzas and a range of 50 different craft ciders.

As part of the partnership, Fuller's will also acquire the freehold of The Bull Hotel ("The Bull") in Bridport, Dorset. The business started in The Bull, which the couple purchased in 2006. The hotel - which has 19 boutique bedrooms - had a stable at the rear, which became the site of the first pizza and cider restaurant.

Five further restaurants followed in Weymouth, Bristol, Bath, Poole and Fistral Bay, Newquay and the plan is to expand the business further into the South of England. Fuller's investment in the company will allow the Coopers to realise their expansion plans and the business will still run under their leadership.

Fuller's is investing £7.3 million for the 51% share, as well as the freehold of The Bull Hotel and there is an option to increase this investment in the future. It is anticipated that the transaction will be broadly earnings neutral in the first year.

The Stable has a clear brand proposition which is characterful and distinctive and provides a unique and complementary addition to Fuller's growing premium food and drink portfolio. Fuller's expertise of operating in the wider southern counties, as well as years of experience at multi-site operations, will help with the roll out of the business.

Ends

For further information, please contact:

Fuller, Smith & Turner P.L.C.
Simon Emeny, Chief Executive (press)	020 8996 2175
James Douglas, Finance Director (analysts)	020 8996 2000
Georgina Wald, Corp Comms Manager	020 8996 2198/07831 299801
Instinctif Partners
Paul Downes	07900 244888
Justine Warren	07785 555692

Photography is available from the Fuller's Press Office: [e-mail] / tel [phone].

Notes to Editor

Fuller, Smith and Turner P.L.C. is an independent traditional family brewer founded in 1845 and is based at the historic Griffin Brewery in Chiswick, London, where brewing has taken place continuously since 1654. The Company runs 180 Managed Pubs and Hotels and 206 Tenanted pubs, with a focus on outstanding cask ale, great wine, exemplary service and delicious fresh, home-cooked food. The Company also has 622 boutique bedrooms in its Managed estate. Fuller's pub estate stretches from Brighton to Birmingham and from Portishead to the Greenwich Peninsula, including 168 locations within the M25.

The Fuller's Beer Company brews a portfolio of premium beers including London Pride, ESB, Organic Honey Dew and Frontier Craft Lager. In June 2013, the Company acquired Cornish Orchards, a craft cider maker producing a range of award-winning ciders and premium soft drinks. Fuller's is also the UK distributor for Sierra Nevada, the premier US craft beer.

The Stable comprises six restaurants focussing on gourmet pizza and cider that was founded in 2009 by Richard and Nikki Cooper. The first unit was in a stable at the rear of the Bull Hotel in Bridport and there are now five other Stable restaurants in Weymouth, Bath, Bristol, Poole and Fistral Bay, Newquay. More information is available at The Stable website www.stablepizza.com.

 

END

 

 

ACQLLFLARVIAIIS