Wadworth, the Devizes-based pub operator and family brewer, continues its commitment to sustained growth with three significant acquisitions into its managed house estate, representing an investment of almost £6.5m.
Set on the High Street in the picturesque market village of Botley in Hampshire, The Dolphin, acquired for £1.25m re-opened in April after a major refurbishment to provide the community with a rejuvenated premium drinking and dining experience.
Other recent acquisitions in Reading and Redhill saw Wadworth breathe new life into historic inns as the 14th Century, The Bird in the Hand acquired for £2.25m and the 16th Century, The Stag Hotel (pictured) acquired for £1.25m ,were transformed with contemporary renovations whilst respecting their character and protecting and retaining original features.
Wadworth CEO, Chris Welham, said, “These major acquisitions are testament to our ambitious growth strategy and continued commitment to expansion in 2017 and beyond. We have invested significant capex into extensive improvements at these properties as well as releasing an additional spend of around £2.5m over the last six months to upgrade, refurbish and extend a number of pubs throughout our estate of managed and tenanted houses.”
Wadworth has an enviable stable of beer brands available across all of its pubs, and has worked hard to ensure the food offering matches the standard and breadth of the drinks menu. The recent capex release has also focused on the enhancement and expansion of the accommodation offering bringing the number of Wadworth rooms available for short stays to 240.
The business is aiming to add more new properties to the estate over the next 3-5 years and will be making further investment into existing pubs on an on-going basis. These new acquisitions and capex investments come hot on the heels of Wadworth’s first acquisition into London last year, The Kings Arms in Fulham, which is overachieving on expectations.
Welham sums up; “It’s an exciting time to be part of Wadworth with a commercially focused and driven management team dedicated to moving the business forward with sustained growth and investment. Six months ago, we re-invigorated our 6X brand and have already seen the results in increased sales. We expect that trend to continue and for our acquisition and improvements programme to start paying similar dividends, attracting new customers and cementing and increasing loyalty with existing ones.”
