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Epiris acquires Amber Taverns
Epiris, the owner of the restaurant group which oversees brands including Bella Italia and Las Iguanas, has acquired freehold pub operator Amber Taverns.
Epiris, which owns The Big Table group, revealed yesterday (7 October) that Epiris Fund III, advised by Epiris LLP, has agreed to acquire Amber Taverns for an undisclosed sum.
Amber Taverns, which operates 178 wet-led pubs mainly in the Midlands, North of England and South Wales, was founded in 2005 by CEO James Baer. The pubs work on what is described as a “hybrid operator-managed” model. The group opened its latest site, The Three Brass Monkeys in Whitley Bay, in late September.
“We are excited to enter the next growth phase in partnership with Epiris, who invested the time and effort to understand our business and what makes an Amber pub. We are confident that they can support us in our ambitious expansion plans,” commented Baer on the acquisition.
“Epiris’ investment further demonstrates that a well-invested pub focused on serving its local community is a resilient and relevant business model, and it is a vote of confidence not just in Amber but in the sector as a whole,” he added.
Ian Wood, partner and head of the investment team at Epiris, commented: “Amber has a firm and clear focus on value and service, with a broad product range served at competitive prices in community settings with a strong entertainment offering. This has enabled it to grow consistently, delivering industry-leading financial performance and taking share in the large and resilient pubs market.”
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