The Seafood Pub Company founded on the Fylde coast and which runs the Farmers Arms at Great Eccleston has secured a deal with a private equity firm to fund expansion.
The award-winning gastro pub company founded by Poulton’s Jocelyn Neve has allowed Penta Capital, which has invested in the likes of Geronimo Inns, La Tasca to acquire a majority stake.
Founded in 2010, the Seafood Pub Company started trading in 2011 and has a portfolio of eight individual food pubs in the North West.
Jocelyn, who was 25 when the firm began, targets fresh, ingredients and sources the best of British produce with an emphasis on produce from the sea. Her father Chris Neve worked at Fleetwood in the fishing industry and uses his expertise in the pub business today.
The company said it aims to more than double its pub portfolio and expand to 20 sites over the next three to five years.
The acquisition strategy will continue to focus in the North of England through a combination of freehold and leasehold sites spreading into Cheshire, the Lake District and North Yorkshire.
Jocelyn (pictured) said: “We are delighted to partner with Penta Capital which has a proven track record of backing a number of other successful pub and leisure retail businesses. Torquil and the team at Penta totally buy-into our strategy and their support and expertise will be invaluable as we take the business to the next level. We have exciting expansion plans and this partnership will enable us to realise those and further accelerate our growth.”
Torquil MacNaughton, managing partner of Penta Capital, said: “We were attracted to The Seafood Pub Company’s unique proposition and the fact that it had demonstrated an impressive track record of growth since its inception only six years ago. Joycelyn is a talented, young entrepreneur and we look forward to working together with her to continue to build the business.”