Old English Pub Company is buying 40 units for £44m, despite fears over trading prospects in the sector.
The group is buying seven Forte Heritage hotels for £12.5m, 10 inns from Regal Hotel Group for £12.6m and 23 other pubs and inns for a total of £19.3m.
The acquisition will bring its portfolio to 160 properties including 101 coaching inns and 59 pub restaurants.
The company’s recent £30m share issue flopped in the wake of profit warnings from Regent Inns and J D Wetherspoon.
The Times 16/07/98 page 27The Independent 16/07/98 page 19
Financial Times 16/07/98 page 36
The Guardian 16/07/98 page 23, page 26 (The Prices Page) The Daily Telegraph 16/07/98 page 39
