StockMarketWire.com - Pub group Fuller, Smith & Turner said it had acquired Cotswold Inns & Hotels for £40m.

The company said the deal included seven freehold country inns and hotels and eight freehold staff cottages in England's Cotswolds area, together with two leasehold bars in Birmingham's city centre.

Cotswold Inns & Hotels was founded in 1997 by Michael and Pamela Horton.

In the financial year ended 30 September 2018, the properties being acquired generated revenue of £17.5m and site Ebitda of £3.4m with a gross asset value of £31.5m.

Fuller, Smith & Turner said the acquisition would be funded from existing banking facilities and was expected to completed on 31 October.

'The inns and hotels being acquired are all iconic, character properties in sought-after locations in the Cotswolds,' chief executive Simon Emeny said.

'They will further enhance our existing portfolio of premium hotel accommodation, adding 201 stylish bedrooms.' At 9:46am: [LON:FSTA] Fuller Smith Turner PLC share price was -17.5p at 1017.5p



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