Epiris acquires pub operator Amber Taverns

UK – Private equity firm Epiris has completed the acquisition of Amber Taverns, a pub operator through its 2022 buyout fund, Epiris Fund III.

The financial details of the acquisition were not made public.

Amber Taverns operates 178 pubs across the UK, mostly in the Midlands, North of England and South Wales.

Founded in 2005 by James Bear, Amber Taverns operates its pubs on the ‘hybrid operator-managed’ model. In late September, the operator opened its latest pub The Three Brass Monkeys in Whitley Bay.

Since its inception, Amber Taverns has recorded consistent growth mostly attributed to its operated pubs offering a wide range of beverage and entertainment options, including karaoke, live music, and interactive darts.

James Bear welcomed the acquisition by saying, “We are excited to enter the next growth phase in partnership with Epiris, who invested the time and effort to understand our business and what makes an Amber pub. We are confident that they can support us in our ambitious expansion plans.”

“Epiris’ investment further demonstrates that a well-invested pub focused on serving its local community is a resilient and relevant business model, and it is a vote of confidence not just in Amber but in the sector as a whole.”

The selling shareholders also included Michael George from MxP, a mid-market private equity firm. George was involved in the acquisition because he is a founding shareholder of the pub operator.

Ian Wood, partner and head of the investment team at the restaurant welcomed the acquisition. He praised the pub operator’s focus on value and service offered to customers, describing it as the catalyst behind the restaurant’s recent growth.

Wood also praised the operator’s wide product range offered at competitive prices in community settings without compromising on the entertainment offering. He expressed confidence the acquisition marks a new era in the company’s growth.

The acquisition marks Epiris’ fifth investment under the Epiris Fund III after the equity firm acquired Delinian, LoneStar, Pure Cremation, and GSF Car Parts.

In February 2024, the private equity firm announced the final close of the fund, with total commitments of £1.044 billion (US$1.367 billion).

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