Leisure mergers and acquisitions specialist Coffer Corporate Leisure (CCL) has sold the Cedar Pubs Company portfolio to Peter Brook’s InnDeed Group for £3.175m. The portfolio comprises 6 freehold traditional pubs across the Midlands and Northern Counties.

The deal is the second major acquisition for InnDeed, which is backed by venture capitalists Dawnay Day Principal Investments. Further acquisitions are planned with the group looking to build a substantial portfolio of pubs across the UK.

InnDeed was created in February 2007 with the acquisition of a group of 11 pubs from Newport & Cedar Pub Companies.