One of Sussex's most iconic attractions is sold for Â£18 million
A company which owns one of Sussex's most iconic attractions has been bought for Â£18 million.
The Eclectic Bar Company, which runs bars such as Lola Lo, Dirty Blonde, and Coalition, announced the acquisition of The Brighton Marine Palace and Pier Company – which has owned the pier since 1889.
The takeover will see the pier company’s current CEO step down.
Luke Johnson, executive chairman of Eclectic said: “We are very pleased to announce the acquisition of Brighton Pier, one of the most iconic and instantly recognisable attractions in the UK. The pier is hugely popular with the British public and it occupies a special place as a landmark at the heart of Brighton.
“Brighton is one of the UK’s most popular visitor destinations with over 10 million visitors per year, making it the most visited place in the South East. The pier itself is Britain’s most popular attraction outside London. The pier has been well run and well maintained by the previous owners and we welcome Anne Martin and her first class management team to the newly enlarged Eclectic group.
“This acquisition represents the next stage in the group’s development, expanding the Company’s existing portfolio and using the enhanced Board’s diverse skillset to become a differentiated operator of leisure and entertainment assets.
“I’d like to thank Reuben Harley for his contribution to the success of the Group. He leaves with our warm wishes.”
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