Acquisitions put Duxton Pubs on track to become a top three pub owner

Duxton Pubs is set to take over the freehold and leasehold interests in three SA pubs, with plans for some major makeovers.

The Cremorne Hotel, the Old Noarlunga Hotel and the Woolshed Inn in Bordertown will all be given a makeover.

The Woolshed will be a primary focus for Duxton Pubs, which will undertake a multimillion-dollar upgrade in a similar vein to the successful upgrade of the Crafers and Uraidla hotels, owned by Duxton’s Ed Peter.

Duxton Pubs was launched last year when Mr Peter teamed up with Martin Palmer and Brett Matthews with their first acquisition of The Lion Hotel in North Adelaide.

Duxton will put its own twist on its latest acquisitions and is continuing to negotiate the purchases of several other venues across South Australia.

“They all fit the demographic we like – they’re all good assets, we like the communities and by spreading ourselves out a little bit we like the footprint we’re creating,” Peter said.

Last year, investors helped Duxton Pubs raise $25 million, with another $15 million contributed by family groups led by Mr Palmer and Mr Matthews.

Mr Peter said in the next few months Duxton is seeking $20 million more from investors to fund future purchases.

There are potential acquisitions already in advanced stages of due diligence, with Duxton Pubs aiming to become a top three pub owner nationally.

It also intends to list on the Australia Securities Exchange (ASX) within four years.

Irit Jackson - 18th March 2021