Bravo Inns, an operator of community pubs in the North West of England backed by Albion Ventures, has acquired its 30th pub to date, the Albion Hotel in Clayton-le-Moors, Accrington.
The Albion Hotel was acquired closed, but Bravo has invested in a refurbishment that aims to make the pub, which is next to a canal and has a large beer garden, play a central role in the community.
Bravo was formed in 2007 with the support of Albion Ventures, one of the largest independent venture capital investors in the UK. Since then Bravo has demonstrated its ability to turn around heavily underperforming pubs and for those sites acquired over the last two years, generate blended returns on capital of over 20 per cent.
Ken Buckley, managing director at Bravo Inns, says: “We’re delighted to have passed this milestone and the name of our new acquisition is fitting given the tremendous support we’ve received from Albion over the years. Our approach shows how well managed wet led pubs can combine commercial success with the ability to play a key role in supporting their local community. With Albion’s continued support we are looking to expand our portfolio over the coming months and have a strong pipeline of potential sites that are set to enhance our estate.”
Will Fraser-Allen, deputy managing partner at Albion Ventures, says: “Bravo’s 30th pub acquisition demonstrates the scale of its ambition and the continued success it has achieved in creating community pubs. It’s testament to Ken Buckley and his management team that this has been achieved against a tough economic climate where consumer spending has been squeezed.”
