Amber Taverns acquired by Big Table Group investor

The private equity firm which backs Big Table Group has acquired pub group Amber Taverns for an undisclosed sum.

Epiris has made the deal through its Epiris Fund III, which also invests in funeral firm Pure Cremation.

Amber Taverns was founded in 2005 by chief executive James Baer and operates 178 freehold, wet-led pubs, predominantly in the north of England, the Midlands, Scotland and Wales.

It has grown consistently by offering customers premium live sports coverage and entertainment such as live music, karaoke and sports including interactive darts.

Baer said the deal was a “vote of confidence not just in Amber but in the sector as a whole.”

“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,” said Baer.

Among the selling shareholders is Michael George of the mid-market private equity firm MxP, who is also a founding shareholder of Amber Taverns.

Earlier this year CityAM reported that Epiris had secured a period of exclusivity to pursue the deal, which could be worth over £200m.

Bill Priestley, managing partner at Epiris, said: “We are delighted to have the opportunity to work with James and his team to execute a strategy of investment and growth that will build on the fantastic platform they have created.”

Investors have poured millions into pub chains this year, with Stonegate securing a £250m refinancing package from its private equity backers and RedCat Pub Company securing a £61m refinancing deal.

There have also been a number of major acquisitions, with Fuller’s buying the Lovely Pubs group for £22.5m in August.