Fuller's buys 15 pubs from Enterprise Inns

Fuller, Smith and Turner, the pubs group which lost out to Greene King last year in a bid battle for the Capital Pub Company, is beefing up its estate with the purchase of 15 freehold tenanted pubs from cash-strapped rival Enterprise Inns.

Fuller, Smith and Turner, the pubs group which lost out to Greene King last year in a bid battle for the Capital Pub Company, is beefing up its estate with the purchase of 15 freehold tenanted pubs from cash-strapped rival Enterprise Inns.

Fuller's is paying £22.9m in cash for pubs which in aggregate generated operating profits of £1.7m in the year to September 30th, 2011. The acquisition is expected to immediately enhance earnings. The pubs had a balance sheet value at the end of September of £18.4m.

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