Bravo Inns sold to Hawthorn Leisure for £17.9 million

Bravo was founded in May 2007 by Ken Buckley and Philip Dearden, together with financial support from Albion Capital.  In early 2007, Ken, Phil and Albion successfully exited The Bold Pub Company, an estate of 30 pubs.

The Bravo estate currently comprises 44 predominantly freehold and well-invested pubs trading under the successful operator managed model.  Profits have increased from £1.9m in 2017 to in excess of £2.6m today due to selective site acquisitions and growth capital investment.

Following completion of the sale, Ken Buckley will continue as a consultant to the business and the trusted “Bravo Inns” name will be retained in each of the pubs.  The expectation is that the business will benefit from funding from Hawthorn to grow the brand further in its heartland of North Cheshire, Greater Manchester, Staffordshire, Lancashire and Cumbria.

 

Ken Buckley commented as follows:

“We have long been passionate supporters of pubs operating in the heart of the community, led by talented operators ensuring customers are the absolute focus. 

I am delighted to announce today’s sale of Bravo to Hawthorn.  It is clear that we share the same commitment to community-based assets and I look forward to developing the business further under its ownership. 

I feel extremely proud to have built two successful businesses with Albion Capital.  I would like to thank Will Fraser-Allen for his strong support over the last 15 years, not just in terms of providing access to flexible capital but also his wise counsel along the way. 

Finally, I would like to thank our advisers, Fraser, Peter and the team at Sapient Corporate Finance.  Sapient’s unrivalled knowledge and understanding of the pub market is widely-known but equally impressive is their hands-on commitment and dedication to executing a successful transaction.”

Will Fraser-Allen, Albion Capital, Managing Partner commented as follow:

“It has been an immense privilege working with Ken Buckley and Phil Dearden for over 15 years as they successfully built Bold Pub Company and then Bravo.  Such a long relationship is rare and is testament to the quality of these businesses and the team that created them.  What Ken Buckley does not know about pubs is simply not worth knowing!”