Howes Percival serves up Castle Carvery deal
Howes Percival has acted for Anglia Restaurants Ltd on the sale of the Wherry hotel and the Castle Carvery chain of restaurants. The Oulton Broad based Wherry Hotel together with the Castle Carvery restaurants at the Racecourse and Clocktower in Norwich, and the Castle Freehouse in Caister-on-sea were sold to the RedCat Pub Company group.
Anglia Restaurants will continue to operate and develop its popular Fatso’s diner restaurants at its Sprowston and Riverside locations in Norwich.
The leading law firm’s leisure and tourism team advised on the transaction from start to finish, which consisted of interlinked share, business, and property sales. Led by partner, and property law expert, Joanna Nicholls, the Howes Percival team consisted of Richard Turner and Helaina Mann (corporate) and Matthew Potter (employment).
Commenting on the deal, Joanna Nicholls said, “We’re delighted to have advised Anglia Restaurants on the sale of the Wherry hotel and Castle Carvery group. This was a complex transaction due to the number of sites involved and the overall structure of the deal however the parties were able to overcome these complexities through their desire to finalise the deal. It is real credit to our client that the buyer intends to continue with the Castle Carvery brand which our client has successfully developed over a number of years.
“In a sector greatly influenced by economic change, we understand the business challenges businesses face and the need to respond quickly to opportunities. The leisure and tourism industry has had to battle its way through the pandemic, but the sector has proved its capacity to adapt and evolve.”
Michelle Williams, director of Anglia Restaurants Ltd said, “We are really pleased with the outcome of this deal and are looking forward to beginning a new phase of our businesses and focusing on our Fatso’s brand. I would like to thank the team at Howes Percival who were brilliant to work with and made sure the sale ran smoothly and efficiently.”
Howes Percival has a wealth of experience advising clients in the leisure and tourism industry. Clients range from large corporations to family-owned businesses working in hotels and hospitality, holiday park operators, sport, leisure and lifestyle clubs, historic houses, visitor attractions, boating and leisure holiday companies, pubs and restaurants.