NewRiver responds to press speculation – NewRiver REIT has released a statement this morning:
“NewRiver notes press comment regarding the potential acquisition of Hawthorn Leisure Holdings Limited (“Hawthorn”). NewRiver confirms that it has entered a period of exclusivity with Hawthorn and its major shareholder regarding a potential acquisition of the business. A transaction, if completed, would be funded from NewRiver’s existing resources. There can be no certainty that a transaction will be concluded and a further announcement, as appropriate, will be made as soon as practicable.”
Hawthorn Leisure Holdings is a pub company that was established in 2014. The following description is from a recent press release:
“Hawthorn Leisure, the 300 strong pub company based at Marston Green have been shortlisted as the UK’s best Pub Company just three years since they were formed. In the Publican Morning Advertiser’s category of Leased & Tenanted Pub Company (less than 500 pubs), Hawthorn Leisure, the biggest and most successful pub company formed in the last fourteen years, are up against three family brewers and pub companies who have between them been running for five hundred years. The company headed up by Chief Executive Gerry Carroll, whose background is in retail, recently clinched two accolades at the West Midlands Finance Awards for Best Small Business and Best Finance Team as a result of their three years profit growth…. …. The company based at Birmingham employs fifty people at head office and in the regionally based operations team“
NRR : NewRiver responds to press speculation