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The Coaching Inn Group has acquired the Golden Lion in St Ives, Cambridgeshire, for £2m as the company continues its £20m expansion plans.
As part of the expansion plans the company has purchased five properties over the past 12 months, with a further four expected to be acquired this year.
Kevin Charity, founder and managing director, said: “The Golden Lion is a great example of the kind of property we want; great market town locations and businesses that will draw in locals and visitors from further afield alike.
“Victoria and the team have obviously done a fantastic job over the past decade and we look forward to continuing to work with them to build on the business’s fantastic reputation.”
The latest acquisition follows the news that the firm has reported a 29% increase in sales and 60% rise in profits, with turnover topping £13m. The group said it is on track to reach its target of 15 sites before the end of the year.
