Amber’s Yorkshire pledge as it agrees new funding

The Lancashire-based business aims to increase its existing portfolio of 86 pubs to around 120 across the North, the Midlands and North Wales by 2016.

Amber Taverns owns nine pubs in Yorkshire including Chennells in Barnsley, The County in Rotherham, The Library Tap in Bingley and Bow Legged with Brass in Halifax.

It is in talks about acquiring two more in Scarborough and Hull.

Under the new deal, the pub operator will extend its existing credit facility with Lloyds Bank by £5m to allow it to continue its rapid acquisition of new premises, which has seen its estate almost double in size in the past three years.

Clive Preston, chairman of Amber Taverns, said: “The continuing success of our business is proof that the traditional ‘wet-led’ pub is alive and well, and quality venues in a good location and a competitive offer will thrive.

“Our customers want to enjoy great pubs in their local community that offer value for money and which also screen the best sporting events and we are delivering exactly that.”

The veteran pub entrepreneur added: “Yorkshire continues to be a core area of focus for Amber.”

The company completed a management buyout in 2010, supported by LGV Capital, which typically invests in deals of between £25m and £200m.

Ashley Suter, a relationship director at Lloyds Bank, said: “We have supported Amber Taverns since the company was established in 2005, and it has been rewarding to see how far the company has come in that time.

“The company operates in an extremely competitive sector, but by staying true to its ethos of delivering quality traditional pubs that are loved by local communities has allowed it to flourish.

“Its success in recent years has created a significant number of jobs and been a real boost to the economic recovery, and we are proud to be lending our ongoing support to this.

“We are on the lookout for other ambitious mid-sized companies like Amber Taverns which we can help to achieve their business development goals.”