City Pub Company has secured a new and improved £20m banking facility to fund its expansion plans. The new agreement has been funded by Barclays until 2021.
Headed up by Clive Watson (pictured) and David Bruce, the company has grown rapidly since it was founded in late 2011, and has grown to 27 pubs. The bosses now plan to grow the estate to between 40 and 50 pubs over the next three years.
Watson co-founded Tup Inns, while Bruce was behind the roll out of Slug & Lettuce. The duo co-founded City Pub Company with former Fuller, Smith and Turner director John Roberts.
The firm has a number of potential acquisitions in the pipeline, prior to a possible flotation on AIM within the next couple of years.