LATEST DEALS

June 2009: Kimbells assist with Charles Wells expansion plans

Kimbells’ industry specialists advised Bedford pub company, Charles Wells, on a substantial new acquisitions finance package.

The financing deal was designed to fund continuing expansion of its tenanted pub estate, which goes from strength to strength - highlighted by winning title of best UK leased/tenanted pub company with 200+ outlets at the 2009 Publican Awards.
 
Kimbells’ drinks and hospitality team also acted for Charles Wells on the acquisition of two portfolios of tenanted pubs from Punch Taverns, having helped put the funding in place.  The first tranche of 17 pubs was completed in May with a further 9 added to the estate by the end of June. This clearly supports Charles Wells’ strategy of continuing to invest in their estate by adding properties with high standards of food and drink.

Kimbells has worked with Charles Wells, advising on their acquisitions and disposals of licensed premises, banking facilities and other commercial issues for many years. “Kimbells’ industry expertise has been very helpful” commented Charles Wells’ Commercial & Property Director, Richard Burt. “Through understanding the market in which we operate, the team is able to highlight any potential pitfalls, bringing deals to a swift conclusion”.

These acquisitions bring Charles Wells’ estate in England to 260, all operated on tenancy or lease agreements. Kimbells is also acting on Charles Wells’ planned disposal program.

To find out more about Charles Wells, visit: www.charleswells.co.uk