Real estate investment company, Aprirose, has acquired Wear Inns in a £22.4m takeover.
The community pub estate based in North East England was previously owned by BGF and NVM Private Equity.
Wear Inns has developed a portfolio of 25 pubs across Yorkshire and the North East of England since it was founded in 2006 by late duo John Sands and John Weir.
On the recent takeover, Manish Gudka, CEO at Aprirose, said: “The acquisition of the Wear Inns business will complement our current portfolio of pubs across the UK. The brand has developed a first-class reputation with a focus on community, quality drink, customers and staff. We have a clear vision of building a pub group of scale and we look forward to supporting Wear Inns on their next stage of growth.”
The deal follows on from Aprirose’s acquisition of a portfolio of 73 pubs from Mitchells & Butlers in summer 2017.
The London-based investment company, which owns the Qhotels chain, now has a portfolio of commercial and residential real estate worth over £1.7bn.