Peach Pub Company seeking investment to fund expansion
Peach Pub Company has said it is exploring options to secure investment as it eyes further expansion.
The 20-site strong pub group has appointed business advisers BDO to consult with its shareholders and management team on the investment process.
Peach managing director, Hamish Stoddart, said: "We are looking forward to continued growth at Peach, and there are definite opportunities out there to expand our business. We are searching for great locations to open peach pubs and great people to work with us. With a strong investor we'll be able to build our culture of peachy people and unique group of pubs from 20 to 33 and beyond.
"At the moment there is nothing more to say than this. There is no news. If there's an announcement to make we would make it."
The company made the statement after The Times reported that the Restaurant Group was one of a number of a number of bidders interested in purchasing it.
Accounts for the year to 7 January 2018 showed an increase in turnover of £600,000 to £25.6m and like-for-like growth of 2.4%. The company said the results were "indicative of the current climate in an overly saturated casual-dining sector and an oscillating market in light of uncertainty in a post-Brexit world".
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