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Independent North East pub operator Wear Inns to expand as turnover increases to £13.4 million

Independent North East and Yorkshire pub operator Wear Inns has been identified one of Britain’s fastest-growing private companies, according to the inaugural Investec Mid-Market 100 ranking.

The company recently announced it was planning to expand its estate of 26 pubs in the North East and Yorkshire having seen its turnover increase in 2014 by 14.5% to £13.4 million.

The list, compiled in conjunction with DueDil, the largest source of free private-company information in the UK and Ireland, ranks active, UK-registered companies according to their four year average compound annual growth rate, with a minimum annual turnover of £10 million.

Wear Inns, which has its headquarters at Castle Eden, County Durham, is one of only two North East companies and seven from Yorkshire included in the list.

Chief executive of Wear Inns, John Weir, said: “We are delighted to be ranked 19th on such a prestigious list and it is testament to our strategy for growth and the work of our staff to ensure our pubs provide great value, all day every day.

“This is the third national accolade for Wear Inns in the past 12 months having been highlighted as one of the 1000 companies to inspire Britain by the London Stock Exchange and one of Real Deal’s top 100 growth companies. We are delighted to be recognised this way.”

Ed Cottrell of Investec, said: “The UK mid-market contributes nearly £1 trillion of revenues annually and up to a quarter of private sector employment, and it is important that its contribution is understood and recognised.

“We know from our experience of working with mid-sized businesses that they are highly committed to investing for long-term growth and play a crucial role in the success of the UK’s broader economy.

“We look forward to seeing these companies go from strength to strength in the future and congratulate Wear Inns for achieving their place in this year’s Investec Mid-Market 100.”

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