Vaulkhard Group acquires two pubs amid £4.5m funding package
In this acquisition, both sites will retain all of its 59 members of staff, which will also increase the group’s employees to a total of 350
Newcastle-based leisure operators, Vaulkhard Group, has acquired two pubs after it secured a funding package of £4.5m from HSBC UK.
The group, which owns a number of bars and pubs in the city, including Barluga, Redhouse and The Beehive, has acquired the Town Wall and Bridge Taverns in central Newcastle.
This latest acquisition has expanded its total number of trading sites to 15 venues.
In this acquisition, both sites will retain all of its 59 members of staff, which will also increase the group’s employees to a total of 350.
In addition, the group has expressed an interest in making further acquisitions in the North East over the coming years, in an effort to grow its portfolio.
Craig Bell, finance director of Vaulkhard Group, said: “There was a slowing of investment into hospitality businesses throughout, and in the aftermath of, the pandemic. We saw this dip in the market as an opportunity to invest in premium sites.
“We will continue to search for similar opportunities in and around the North East as we look to further grow the business. It’s important for us to ensure that our great city retains its reputation as a successful leisure hub.”
Stuart McLaren, relationship manager at HSBC UK, added: “Newcastle’s hospitality scene has always been strong and we’re proud to work alongside this family business as they invest in it for the future.
“We look forward to seeing the positive impact that their growth will have on the city.”