Terra Firma Capital Partners has sold UK pub company Wizard Inns to the UK’s biggest regional brewer, Wolverhampton & Dudley Breweries (WDB), for £89.9m.
Terra Firma, led by chief executive Guy Hands, was managing Wizard on behalf of Hands’ previous employers, the Japanese Bank Nomura. WDB now owns 100% of the company.
Wizard Inns has an estate of 63 managed community pubs and unbranded high street bars throughout London and the South East. Neither the return for Terra Firma Capital Partners I Fund nor the amount invested was disclosed.
Hands formed Wizard Inns Limited in November 1997 with a £32m finance package arranged through Nomura International and Royal Bank of Scotland.
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