Ultimate Leisure to buy Bel and The Dragon chain
Alternative Investment Market-listed pub and restaurant company Gourmet Holdings is in talks over the sale of the Bel and The Dragon chain with Ultimate Leisure, according to today's Times newspaper.
The four-strong Bel and The Dragon group was put back on the market for up to £9.5m earlier this year after talks with gastropub group Cross Oak Inns ended.
The Times today cited the price of the group now as £8m to £9m.
Gourmet Holdings originally put the pub chain on the market in September 2006 after buying the Home Counties pubs in 2004 for £10m with plans to expand.
The company has already sold this year two unbranded pubs to London pub company and brewer Fuller's for £2.85m.
A successful sale of Bel and The Dragon would leave Gourmet with its Richoux restaurants.
Gourmet Holdings reports second half losses >>
Gourmet Holdings puts Bel and the Dragon up for sale >>
Cross Oak Inns to buy Gourmet Holdings' Bel and The Dragon pubs >>
By Christopher Walton
E-mail your comments to Christopher Walton](mailto:christopher.walton@rbi.co.uk?subject=Ulimate Leisure to buy Bel and the Dragon) here.
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