Ultimate Leisure bolsters food business with pub group buy

21 May 2007 by
Ultimate Leisure bolsters food business with pub group buy

Ultimate Leisure has spent £8.75m on the Bel and the Dragon pub group to bolster its food offer.

The North-east located company has purchased four Bel and the Dragon sites in cash from reserves from Gourmet Holdings.

In the last financial year to 25 June 2006, the sites delivered sales of £4.5m and earnings before interest, depreciation and amortisation of £1m.

Mark Jones, chairman of Ultimate, said: "Bel and the Dragon is an attractive business and the acquisition of these four sites would represent important progress in our stated aim of developing the food-led side of our business."

Gourmet Holdings has previously disposed of two unbranded pubs within the Bel and the Dragon group to Fuller's and its main focus is now its four Richoux restaurants.

Like-for-like sales behind at Ultimate Leisure >>

Ultimate Leisure to buy Bel and The Dragon chain >>

Gourmet Holdings reports second half losses >>

Fuller's buys five pubs for £7.2m >>

By Chris Druce

E-mail your comments to Chris Druce](mailto:chris.druce@rbi.co.uk?subject=Ulimate Leisure bolsters food business with pub group buy) here.

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