Joseph Holt has formed a joint venture with John Winder and Gary Douglas, the founders of Cloverleaf Restaurants Ltd., to acquire and develop sites for a number of new build pub restaurant concepts.
The new joint venture business, “Touchwood Restaurants Ltd” will aim to draw on the skills, expertise, resources and synergies of both parties to create market leading operations that will provide the foundation for long term sustainable growth. The operations will look to exploit the changing demographic and life-style trends which are significantly increasing customer expectations in relation to food, drink, service quality and value to levels above those usually delivered in large managed house chains.
In addition, John and Gary, together with their ex Cloverleaf Restaurants Operations Director, Pat Breslin, will be working closely with Joseph Holt as Retail Partners, in developing and operating two greenfield sites owned by Joseph Holt in Warrington and Lytham St Annes, as well as two existing Joseph Holt pubs.
Cloverleaf was founded in 2004 and John and Gary developed a highly successful business of 11 pub restaurants prior to its sale to Greene King in January 2011. A further 5 sites were opened prior to their exit from Greene King in January 2013.
Joseph Holt has also recently been developing some highly successful new pubs, such as The Fiveways in Stockport, and intends to invest further amounts in its pub estate this year. Including the expenditure on the 2 new builds in Warrington and Lytham St Annes, Joseph Holt will be investing a total of £8.1 million on developing its estate in 2014, in addition to the £3.1 million it will be investing in Touchwood Restaurants Ltd.