Cornwall’s St Austell Brewery has added to its estate of pubs, inns and hotels for the first time in more than two years. The company has agreed a deal to buy The Wellington Hotel in Boscastle in the north of the county, for an undisclosed sum.
The historic coaching inn, which dates back to the 16th century, has 14 bedrooms, three aparthotel suites, a pub, and a restaurant.
The deal comes after St Austell Brewery chief executive Kevin Georgel said in March the family-run independent business was looking to expand its portfolio to more than 200 venues.
It currently owns 175, including 39 managed sites and a collection of tenanted and leased properties. The company recently reported a return to profit for 2021, despite all its sites being closed for the first four months of the year due to lockdown.
Turnover rose to £156.6m from £117.6m in 2020, while it rebounded from a £10m loss to make a pre-tax profit of £10.5m.
Mr Georgel said: “This is our first acquisition in over two years, so it’s an exciting time for the business and a milestone moment in the strong recovery we’ve continued to make since the pandemic. It also supports our plans to strengthen and grow our pub estate, across Cornwall and the wider South West, in the months and years ahead.”
The Wellington Hotel’s previous owner Jonathan Scott, who ran the establishment for more than a decade, added: “St Austell Brewery is an independent local business with family values and great pubs and hotels, making it the most suitable guardian to take The Wellington into its next chapter. It’s really positive news for the future of the site, the team, and the Boscastle community.”
Other sites to have joined St Austell Brewery’s managed estate in recent years include the Royal Castle Hotel in Dartmouth and the Rock Point Inn in Lyme Regis.
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