Acquisition, Proposed Name Change & Presentation
Summary by AI BETAClose X
The information communicated within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 ("MAR"), and is disclosed in accordance with the Company's obligations under Article 17 of MAR. Upon the publication of this announcement, this inside information is now considered to be in the public domain.
6 March 2026
VARIOUS EATERIES PLC
("Various Eateries" or "the Company" and with its subsidiaries "the Group")
Acquisition of premium pubs with rooms portfolio
Creation of third brand, The Linwood Collection
Proposed name change to Coppa Collective plc
Notice of Investor Presentation
Various Eateries PLC, the owner, developer and operator of restaurant, clubhouse and hotel sites in the United Kingdom, announces that it has exchanged on asset purchase agreements to acquire a portfolio of premium pubs with rooms from Grosvenor Pubs and Inns (the "Acquisition").
The Group expects to complete the acquisition of four sites on or around 23 March 2026, with a further agreement in place to potentially acquire a fifth site. On completion, the acquired sites will form a third operating brand, The Linwood Collection, alongside the Group's existing brands Coppa Club and Noci.
Sites
The four sites expected to complete on or around 23 March 2026 are:
· Wild Thyme & Honey (Cotswolds)
· The Hare & Hounds (Berkshire)
· The Stag on the River (Surrey)
· The Wellington Arms (Hampshire)
The Group has also agreed terms to potentially acquire:
· The Queen's Head (Surrey)
The Queen's Head is subject to an "asset of community value" ("ACV") process, meaning the acquisition of that site cannot exchange until the relevant statutory notification and moratorium period has expired, which is expected to take at least six weeks.
Four of the five sites are freehold. The Wellington Arms is held on a long leasehold and its acquisition remains subject to landlord consent to assign the lease.
The Board considers these venues to be high-quality, well-invested assets, recognised for their character, design and strong local reputations. Each site benefits from an attractive regional location, established guest appeal and a clear cultural fit with the Group's existing estate.
The sites will continue to trade under their current names and identities. The Group intends to preserve each venue's established positioning and what makes them distinctive.
The Company will issue further announcements at the appropriate time, including in relation to the completion of the Acquisition and the outcome of the ACV process.
Strategic rationale
The Board believes premium pubs with rooms represent a resilient and attractive model in the current market, combining food and beverage, accommodation and destination-led appeal. The Acquisition provides the Group with a focused platform in this segment and broadens its opportunity set as it continues to scale, supported by management's extensive experience in this part of the market.
The Group expects to enhance the acquired sites through integration into its platform, including group purchasing, central support capabilities and established operating disciplines. The Group also expects to take a measured approach to investment, focused on enhancing the guest experience, disciplined capital deployment and commercial optimisation.
No new directors are proposed to be appointed to the Company in connection with the Acquisition.
Consideration and funding
The cash consideration payable on completion for the four sites is £11.25 million, subject to customary completion adjustments.
The Group expects to fund the Acquisition through new debt financing and existing resources. The Group has secured a £15 million debt facility with HSBC UK Bank Plc, comprising an £8 million three-year term facility with a seven-year amortisation profile and a £7 million revolving credit facility. Interest is payable at a margin over SONIA, with the margin stepping up or down depending on leverage, plus an arrangement fee. This facility is intended to be available at completion and will be used to part-fund the Acquisition and support the Group's wider growth and working capital requirements. The Group does not intend to undertake an equity raise in connection with the Acquisition.
The consideration for The Queen's Head will be agreed and paid on exchange and completion of that acquisition.
Trading and financial information on the acquired sites
Based on unaudited management information provided by the seller, the four sites to be acquired on or around 23 March 2026 generated aggregate revenue of approximately £10.5 million in the 52 weeks ended 28 December 2025, with site-level EBITDA of approximately £1.5 million. The Board believes the Acquisition has been agreed on attractive terms relative to the quality of the assets and the Group's assessment of the opportunity to enhance performance over time through its operating platform.
Proposed name change to Coppa Collective plc
In light of the Group's evolution into a broader, multi-format hospitality platform, the Board intends to change the Company's name to Coppa Collective plc (the "Proposed Name Change"). The Board believes this better reflects the Group's portfolio and long-term direction.
The Proposed Name Change will be subject to completion of the relevant legal and regulatory formalities, including registration at Companies House. Following the Proposed Name Change becoming effective, the Company will be known as Coppa Collective plc and the Company will adopt "COPC" as its new stock ticker. A further announcement will be made when the Proposed Name Change becomes effective. Until then, trading will continue under the "VARE" stock ticker.
Notice of Investor Presentation
Mark Loughborough (Chief Executive Officer) and Sharon Badelek (Chief Financial Officer) will host a presentation via Investor Meet Company on Wednesday 25 March 2026 at 10:00am (GMT).
The presentation will provide an overview of the Group following the Acquisition and its strategy going forwards. A Q&A session will follow at the conclusion of the presentation.
The presentation is open to all existing and potential shareholders. Investors can sign up to Investor Meet Company for free and add to meet Various Eateries plc via: www.investormeetcompany.com/various-eateries-plc/register
Questions can be submitted pre-event via the Investor Meet Company dashboard up until 9am the day before the presentation, or at any time during the live presentation.
The Board confirms that the information presented will be consistent with information already announced to the market. A recording of the presentation will be made available on the Company's website following the event.
Mark Loughborough, CEO of Various Eateries, said:
"Linwood marks an important step in the evolution of the Group. We are bringing into the business a small collection of premium pubs with rooms that have earned their reputations the right way, through great hospitality, careful attention to detail and a real sense of place. They are destinations with loyal followings, and our priority is straightforward: protect what people already love about them and build from there.
This is also a format we know well and rate highly in the current market. Premium pubs with rooms combine food and drink with accommodation and a broader, destination-led appeal. Done well, that mix can deliver resilience and attractive economics, and we believe these sites have the quality to do exactly that. We believe our operating platform can help them perform even more consistently over time, through the disciplines we have been strengthening across the Group, from purchasing and systems to training, standards and day-to-day execution.
This acquisition is fully aligned with the approach we set out at our full-year results. We are building momentum, we have a clearer playbook and we are ready to act when high-quality opportunities arise on the right terms. Alongside Coppa Club and Noci, Linwood broadens the Group in a way that fits our culture and our ambition. As Coppa Collective, we will be clearer about the breadth of what we are building, and I am excited to welcome new colleagues and new guests into the Group."
Contacts:
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Various Eateries plc |
Via Alma |
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Mark Loughborough (Chief Executive Officer) |
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Sharon Badelek (Chief Financial Officer) |
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Zeus (Sole Broker & NOMAD) |
+44 (0)20 3829 5000 |
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Harry Ansell (Broking) |
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Antonio Bossi (NOMAD) |
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Darshan Patel |
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George Duxberry |
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Alma Strategic Communications |
+44 (0)20 3405 0205 |
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David Ison |
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Rebecca Sanders-Hewett |
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Will Merison |
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About Various Eateries
Various Eateries owns, develops and operates restaurant, clubhouse and hotel sites in the United Kingdom. The Group's stated mission is "great people delivering unique experiences through continuous innovation".
The Group operates two core brands across 20 locations:
- Coppa Club, a multi-use, all day concept that combines restaurant, terrace, café, lounge, bar and work spaces.
- Noci, a modern pasta-led concept which serves very high-quality dishes at reasonable prices.
For more information visit www.variouseateries.co.uk.
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