Scotland business

Nic Wood buys pub chain from brother Garreth

Garreth Wood (left) and his brother Nic Image copyright Signature Pubs
Image caption Garreth Wood (left) has sold seven pubs to his brother Nic

An Edinburgh-based pub group owner has bought a chain of pubs run by his brother.

Nic Wood's Signature Pubs paid an undisclosed sum for seven units from Garreth Wood's Speratus Group.

They include The Auld Hundred in Edinburgh, Nox and Paramount in Aberdeen and The Boozy Cows in Dundee, Edinburgh, Stirling and Aberdeen.

The acquisition brings Signature's portfolio of pubs, hotels and restaurants across Scotland to 21.

Nic and Garreth's father is one of Scotland's most prominent businessmen, oil tycoon Sir Ian Wood.

Image copyright Google
Image caption The deal includes the Boozy Cow in Stirling

In a statement, the brothers said the acquisition followed a long-standing relationship between the two companies over the last decade.

Nic Wood said: "This is an exciting deal for both parties and the acquisition has been a very natural progression.

"The Speratus Group consists of great units, in great locations and offer an opportunity to further enhance efficiencies whilst minimising operational changes as the businesses are already so closely aligned."

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