Young & Co's Brewery Plc (YNGA.L,YNGN.L) Wednesday said that it has agreed to acquire Cubitt House London Pubs. The company, which operates pubs, breweries and boutique hotels, said that the acquisition is part of its strategy to expand its footprint in London by operating high-quality pubs in prime locations.
The acquisition includes a portfolio of eight well-known leasehold pubs and pubs with rooms located across West London. These are The Barley Mow (Mayfair), The Builders Arms (Chelsea), The Coach Makers Arms (Marylebone), The Grazing Goat (Marylebone), The Orange (Belgravia), The Princess Royal (Notting Hill), The Thomas Cubitt (Belgravia), and The Alfred Tennyson (Belgravia). The deal also includes a ninth site in Belgravia, which is currently being developed.
The acquisition will be funded through existing banking facilities and is expected to be completed on April 22.
On the LSE, YNGA.L ended Tuesday's trading at 769.00 pence, down 1.4 percent.
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