Operating Agreement

RNS Number : 6765R

Barkby Group PLC (The)

04 March 2019

 

The information contained within this announcement is deemed by the Group to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 ("MAR"). With the publication of this announcement via a Regulatory Information Service, this inside information is now considered to be in the public domain.

 4 March 2019

The Barkby Group PLC

("Barkby", the "Company" or the "Group")

Operating Agreement with the Queens Arms, East Garston

The Barkby Group PLC, the consumer-focused hospitality group, is pleased to announce that it has entered into an eight-year operating agreement with the Queens Arms in East Garston, Berkshire.  

The Queens Arms is an award-winning 18^th century pub, restaurant and hotel located in an area of outstanding natural beauty in Berkshire, approximately equidistant from London and the West Country. The restaurant offers an innovative and seasonal menu using local produce wherever possible and the Queens Arms' 12 bedrooms provide luxury accommodation for guests. The property also benefits from a 120-capacity function room, the Queens Lodge.

This new operating agreement represents further implementation of Barkby's strategy to develop a large portfolio of premium hospitality properties. Barkby has a strong track record of successfully operating hospitality businesses and under the terms of the agreement Barkby will take over the day-to-day operations of the Queens Arms.

Rupert Fraser, CEO of Barkby, commented: "We are delighted that the owner of the Queens Arms has chosen Barkby as its partner. Steeped in character and surrounded by beautiful countryside, the Queens Arms fits perfectly into our existing portfolio of high-quality consumer businesses. We look forward to delivering the exceptional food and accommodation offering that we have taken such pride in developing for our customers across the Group."

Freddie Tulloch, Owner of the Queens Arms, East Garston, commented: "We are very pleased to have signed an operating agreement with The Barkby Group. Barkby has a strong reputation for delivering a high-quality client offering, which is totally in keeping with our core principles and values at the Queens Arms."

Contacts:

The Barkby Group PLC	[phone]
Rupert Fraser, Chief Executive Officer
Allenby Capital (NEX Exchange Corporate Adviser and Broker)	[phone]
Jeremy Porter/Asha Chotai
Camarco (Financial PR)	[phone]
Jennifer Renwick/Jane Glover/Jake Thomas

Notes to editors 

The Barkby Group PLC is a consumer-focused hospitality and services group. The Group currently owns and operates five highly acclaimed gastropub properties with a total of 50 hotel rooms and is focused on delivering a high-end experience in select "destination" locations. The Group seeks to differentiate itself by quality of food and service and upscale accommodation. In addition, the Group owns Centurian Automotive Limited, an automotive dealership with a strong and fast growing online digital presence, which is complementary to Barkby's existing high-end consumer offering.

The Barkby Group PLC has an experienced team driving its growth strategy. The Group intends to develop a large portfolio of premium hospitality properties in partnership with breweries across the UK and intends to scale up to 8 - 12 sites over the next 3 - 5 years. It is focused on a capital light, strong cashflow model with growth driven by quick turnaround of under-performing hospitality properties and other complementary businesses.

 

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