Albion sells Bravo Inns for £17.9m

The value of the company represents an entry multiple for the acquirer of 6.8x.

The company's founder, Ken Buckley, will continue to act as a consultant for the business. The pubs will operate under the brand Bravo Inns.

The asset has been sold to NewRiver Reit, which has a market capitalisation of £587.9m. The acquirer expects to merge the company with its pubs platform Hawthorn Leisure, which owns 660 pubs.

Previous funding
In 2007, Albion supported the incorporation of the company with a capital injection of £8.5m.

Company
Founded in 2007, Bravo Inns owns 44 pubs, primarily in north-west England. The Warrington-based business generates £2.6m in EBITDA.

People
Albion Capital – Will Fraser-Allen (managing partner).
NewRiver Reit – Mark Davies (CFO).

Advisers
Company – Sapient Corporate Finance (corporate finance).

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• Topics
• Exits
• UK / Ireland
• Consumer
• United Kingdom
• Albion Ventures