Shepherd Neame acquires three Essex pubs
Brewer Shepherd Neame has acquired three Essex pubs after seeing a rebound in sales.
The group has bought the Bellhouse in Leigh-on-Sea, the exchange in Southend-on-Sea and the Hamlet Court in Westcliffe-on-Sea from the East Anglia Pub Company.
It takes Shepherd Neame's portfolio to 303 pubs and hotels across Kent, London and the South East.
The company also acquired Urban Reef restaurant and bar in Bournemouth last month.
Jonathon Swaine, managing director of Shepherd Neame, said: "Following the strong company performance revealed in our latest trading update at the end of June, we have been actively looking for opportunities to grow and develop our high-quality estate and are delighted to expand our presence in Essex with these unique properties."
Shepherd Neame posted a pre-tax profit of £5.4m in the six months to December 2021, recovering from a loss of £7.2m in the second half of 2020.
Sales rose 55% to £78.7m and the group paid a dividend for the first time since October 2019.
However, the company said rising inflation and the rise in hospitality VAT, the National Minimum Wage and employer's National Insurance Contributions in April would continue to impact margins.
