Pubs ‘n’ Bars has acquired Moorgate Taverns for £9.27 million.

Pubs ‘n’ Bars Plc, a company that owns community-based pubs in England, has exchanged contracts to acquire Moorgate Taverns Limited for £9.27 million – enlarging its estate to a total of 106 sites.

Moorgate Taverns operates ten pubs in Hertfordshire and Oxfordshire, all but one of which are tenanted to individual operators. The acquisition appears to reflect Pubs ‘n’ Bars’ community focus, with the company stating that most of its pubs are “locals”, and that most of its customers are from the pubs’ immediate areas.

The purchase will add to Pubs ‘n’ Bars’ estate, which currently consists of 52 tenanted pubs, along with 48 pubs that are operated by managers. It includes the assumption of £7.08m debt and will add around £10m in fixed assets and net revenues of £670,000 per annum.

The acquisition follows Pubs ‘n’ Bars’ recent announcement in November of the disposal of two of its pubs in Clapham and Brixton, in London. The two sites were described as ‘poor performing’, with the disposal action as being “in line with the company’s stated strategy”.