Top 100 law firm Birketts, has advised one of the UK’s leading hospitality businesses, Chestnut, on its acquisition of high profile Essex-based inn, The Cricketers, for an undisclosed sum.
Established in May 2012, Chestnut owns 12 pubs, inns and restaurants across East Anglia. Led by Philip Turner, Chestnut focuses on investing in freehold pub, inn and restaurant sites in the region and developing them to reach their full potential. Chestnut own a host of properties across Norfolk, Suffolk and Essex, including The Globe at Wells-Next-The-Sea, The Packhorse Inn in Moulton near Newmarket and The Rupert Brooke in Grantchester, on the outskirts of Cambridge.
The Cricketers was bought in 1976 by Trevor and Sally Oliver, the parents of professional chef, Jamie Oliver, who are now set to retire after 44 years of running the premises.
The acquisition was led by Nick Burt (Corporate) and Stacy Aspden (Commercial Property), with support from Josie Beal (Employment).
Chestnut founder and Managing Director Philip Turner said: “Growing our business is a pleasure when it comes to acquiring an establishment like The Cricketers. The Olivers did a fantastic job, making a name for the inn in the hospitality sector and developing a loyal customer base and we look forward to taking the business in to its next phase.
We will continue to celebrate the people and produce of the region, fortifying the inn’s existing foundations so that we can continue to provide authentic and enjoyable experiences for our guests in the long term. We extend our thanks to the Birketts team, whose business acumen, legal knowledge and practical approach again helped deliver a successful transaction for us.”
Nick Burt, Legal Director in Birkett’s Corporate team concluded: “The Cricketers makes a perfect addition to the Chestnut collection. As a business with strong community roots and focus on quality food and accommodation, The Cricketers represents the perfect fit for Chestnut. We have no doubt The Cricketers will go from strength to strength under its new ownership.”
The content of this article is for general information only. It is not, and should not be taken as, legal advice. If you require any further information in relation to this article please contact the author in the first instance. Law covered as at November 2020.