Fareham pizza chain expands with acquisition of 14 new restaurants
A PIZZA chain is making a major expansion by purchasing a group of 14 rival restaurants.
Three Joes, which has restaurants in Fareham, Winchester and Sheffield, has purchased The Stable pizza chain from Fullers for an undisclosed fee.
The move means that Three Joes will have a second restaurant in Winchester, with additions in Southampton, Bournemouth, Plymouth and more.
Three Joes – which specialises in sourdough pizza and craft beer – was formed in 2017 by Tim Hall, Emma Blackmore and Peter Bruton.
Chief executive Mr Hall said: ‘We’ve been huge fans of The Stable since we launched Three Joes and this acquisition represents a significant step forward.
‘The Stable is five times our size and whilst we are all operating in uncertain times we are confident the business has a strong future.
‘With sites located in harbours, beachfronts and market squares in the south west and on the coast, the opportunity to add these beautiful sites to our estate was too good to be true.’
Mr Hall admits there is a ‘genuine challenge’ presented by reopening 14 restaurants after the coronavirus pandemic, but insists his team is up to the challenge.
Fullers’ chief executive Simon Emeny said: ‘Three Joes is a company that knows pizza, has a similar ethos and culture, and has a management team we trust to look after The Stable.
‘We wish Three Joes every success.’
When The Stable restaurants reopen after lockdown they will emerge under their current branding – a decision on whether to convert them to the Three Joes brand will be made later.