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Pub giant Shepherd Neame has expanded its portfolio after acquiring a trendy seaside bar and restaurant in Bournemouth.
The Faversham-based firm has snapped up Urban Reef, a two-storey seafront venue in the Dorset town.
It is its first in Bournemouth and takes its total of pubs and hotels across Kent, London and the South East to 300.
It comes as the firm continues to rebuild following the trials and tribulations on the business as a result of the pandemic and the lockdowns.
Last month it revealed trade was continuing to build - although admitted it was still down on pre-pandemic levels.
Jonathon Swaine, Shepherd Neame’s newly appointed managing director, pubs, said: “We are now actively looking for opportunities to grow and develop our high quality estate and are delighted to have acquired Urban Reef, a unique offering in a unique beachfront location. Our coastal pubs and hotels have seen particularly encouraging sales during the past year, and we are confident that with its fantastic reputation and loyal customer base, the addition of Urban Reef to our portfolio will allow us to accelerate that growth.”
The site is being sold by founder Mark Cribb, who also owns the Urban Guild, the Urban Beach hotel and Urban Garden bar and restaurant in Bournemouth.
He said: “I love Urban Reef - it is such a fantastic location, with such a wonderful community around it. The vibe, energy, passion and impact on the seafront with DJs, and salsa nights, and bands, and wonderful drinks, food and service still get me excited.
"I feel I've done my bit to get it to where it is, and now it is time for someone else. I was lucky enough to receive a lot of interest in this business, and I chose Shepherd Neame as they have been operating for over 300 years and remain family-owned, and I wanted to hand over to someone who would take a considered, long-term approach.
"Our values are aligned, and having worked with them for the past couple of years as a supplier I have been impressed with their commitment and creativity during very turbulent Covid times. I'm confident they will be a wonderful custodian for the business.”
Shepherd Neame has committed to retaining all its team members.