Young’s brews up £100m acquisition facility
Young and Co’s Brewery has arranged a new £100m five year bank facility to back its acquisition of the Geronimo pub group. The UK company will use the new line, provided by Barclays Capital and the Royal Bank of Scotland, to finance the £60m cash acquisition and refinance an existing £40m revolving credit.
The acquisition was announced on Thursday. Youngs will take control of an additional 26 pubs (most of which are based in central London), increasing its managed estate by more than 20% to 148 pubs.
Geronimo reported Ebitda of £6.1m in the year ending June 2010. It is expected
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