Bravo Inns is celebrating its 30th acquisition today, after fittingly taking ownership of a hotel which shares the name of its backer.
The Albion Ventures-funded firm acquired Albion Hotel in Accrington and now aims to refurbish the venue, before reopening it as a community pub.
The pub operator, which is based in the North West of England, was formed in London in 2007 with the support of the VC firm.
It has since focused on a buy-and-build strategy of acquiring ailing pubs, and reopening them (after extensive refurbishment) to play a central role in the community.
The chain has a specific focus on wet-led pubs (those that sell very little or no food) and to date has received £8.5m in investment from Albion.
Led by Ken Buckley, a pub industry veteran who spent 35 years at Greenalls, the sites acquired by Bravo in the last two years are reported to have generated blended returns on capital of more than 20%.
Will Fraser-Allen, deputy managing partner at Albion Ventures, said of the latest acquisition:
“It's testament to Ken Buckley and his management team that this has been achieved against a tough economic climate where consumer spending has been squeezed.”