Leisure operator Longshot has acquired the Bel and the Dragon pub chain from The Orchid Group.
Leisure operator Longshot has acquired the Bel and the Dragon pub chain from The Orchid Group.
Bel and the Dragon is a chain of four pubs in Windsor, Cookham, Godalming and Reading. The acquisition was for an undisclosed sum.
Rufus Hall, CEO of The Orchid Group, comments: ‘Bel and the Dragon is a great business but is a niche operation which is not scalable for Orchid.’
The Orchid Group was formed in 2006 and currently employs around 6,500 staff. The Hertfordshire-based company operates over 290 restaurants, bars and nightclubs across the UK.
Joel Cadbury, Longshot’s chief executive, says: ‘The acquisition of Bel and the Dragon provides us with a strong platform to build Longshot’s pub and restaurant interests. There is, we believe, considerable opportunity in this sector and we hope to acquire further leisure businesses where we can see potential to add value.’
London-based Longshot was founded in 1994 by chief executive Joel Cadbury and managing director Ollie Vigors to acquire a pub in London, and went on to build up a portfolio of businesses including restaurants and health clubs. In 2007 the company sold all of the outlets that it had acquired and is now looking to make further acquisitions in the leisure and property sectors.
