The pub launch, under the HMRC Enterprise Investment Scheme (EIS) of tax reliefs for investors, will see two new pub companies formed - The City Pub Company (East) Plc. and The City Pub Company (West) Plc. Each company will look to raise up to £2m of equity in this tax year with plans to acquire freehold pubs in London and cities and towns in the South of England.
Fuller's Beer Company
John Roberts left Fuller's Beer Company earlier this year after 15 years with the brewer where he had been involved in various aspects of both the beer and retail parts of the company including the purchase in 2005 of the Hampshire brewery George Gale.
John Smith's Extra Smooth was launched as a brand while Roberts was previously Group Marketing Controller at Courage.
After the announcement of John Roberts' involvement with The City Pub Company was made he said: "I am delighted to be joining forces with two of the great characters of the pub industry to help them build further value for their investors. Their experience and formidable track-record in creating and selling successful pub companies gives us a strong degree of confidence."
Capital Pubs sold
The Capital Pub Company's former owners, David Bruce and Clive Watson, will also be at the helm of the new company with Watson taking the role of chief executive.
This follows the sale in July of Capital Pubs to the brewery in Suffolk, Greene King. The offer of 235p a share meant the sale for the London-based company went through at £93m.
Clive Watson said: "David and I are excited about teaming up again and giving our original EIS investors the opportunity to join us in our latest tax-efficient venture. We’re also delighted to have someone of John’s calibre and experience on board to add a fresh perspective to the Boards of both businesses.”
