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Fri 29th Jul 2016 - City Pub Company secures new £20m facility to fund expansion
City Pub Company secures new £20m facility to fund expansion: Independent pub operators the City Pub Company has secured a new and improved £20m banking facility to fund its expansion plans. The company, founded by Clive Watson, currently has 27 sites and plans to grow to between 40 and 50 pubs over the next three years. The new agreement has been funded by Barclays until 2021. Tarquin Williams, finance director of the City Pub Company, said: “Barclays have been supportive partners over the last four years, during which time the business has transformed from a start up to now running 27 high quality sites. We are delighted to continue this partnership with a new funding package to support our future growth plans and a number of potential acquisitions in the pipeline, prior to a possible flotation on AIM within the next couple of years.” Bob Silk, relationship director at Barclays, added: “Barclays remain committed to supporting the City Pub Company’s growth ambitions. It is a very exciting period for the business and we are pleased to work in partnership with them. This deal represents a significant increase in funding levels as a result of the company’s consistent strong performance and reinforces Barclay’s commitment to the high quality pub sector. We look forward to working with the management team of the City Pub Company during this next phase of growth.”

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