Tue 18th Oct 2022 - Revolution Bars Group set to acquire Peach Pub Company Revolution Bars Group set to acquire Peach Pub Company: Revolution Bars Group, which operates the Revolution and Revolución de Cuba brands, is set to acquire Peach Pubs, the 22-strong gastropub operator, in a deal valued at between £10m and £20m, Propel understands. The company announced this morning that it was in the final stages of “an acquisition, which is expected to be a ‘substantial transaction’ pursuant to AIM Rule 12”. It is thought the rationale behind the deal will see the 69-strong Revolution tap into more daytime, less late-night trade, and more early week business balancing its estate. Peach will also provide a more affluent guest base. It will also provide the Rob Pitcher-led Revolution with a further platform for growth. It is thought the deal will be funded from immediately available cash and banking facilities. Propel understands a deal for Peach, which was founded in 2002 by Hamish Stoddart, Lee Cash and Jo Eames, could take place as early as later today (Tuesday, 18 October), or this week. Earlier this year, Propel revealed Peach had appointed advisors as it undertook a strategic review of its business. The company has been working with FinnCap Cavendish on the review. It came off the back of strong trading by the group. Co-founder Stoddart told Propel earlier this year: “2021 we were solidly more than 20% like-for-like. The team was amazingly flexible and enthusiastic, and we got most things right, which continued even with covid pressure. In the last five weeks we have traded at 16% versus 2019, that’s 13% ahead of the Coffer Peach Tracker. We are in a position of strength, with no net debt and a fund of cash ready for acquisitions, and we are acquiring single sites already. We are privately owned, which means we have choices on what to do and when. We do review our strategy regularly, and we have chosen to do it with FinnCap Cavendish this time. Our pub Ebitda is more than £6m now, and the business is positioned to grow. We may well choose to accelerate growth, which may require funding.” The company previously explored the market in 2018 and received interest from The Restaurant Group, Punch and Brasserie Bar Co, with the former understood to be in exclusive talks on a deal, before its attention turned to acquiring Wagamama.