Acquisition of seven Walkabout bars
June 16, 2009
Coffer Corporate Leisure has acquired a group of seven Walkabout bars from Regent Inns on behalf of Cavendish Bars. This acquisition brings Cavendish's portfolio to 34 sites following the group;s recent acquisition of 27 mostly non-trading bars and clubs from Luminar Leisure. The group has found solutions for two thirds of these through CCL's sister company Davis Coffer Lyons. Cavendish plans to rebrand the Walkabouts, which are located in Brighton, Bromley, Swindon, Durham, Southampton and Putney. The bars will be added to the trading company and will benefit from substantial capex. Further opportunities are being pursued. Paul Tallentyre of Coffer Corporate Leisure said: "This is a great acquisition for Cavendish Bars; the sites acquired are in superb locations and have significant potential. Cavendish intends to invest substantially in these sites, giving a good foundation for the future growth of the company."