BOLTON-based Yates Brothers Wine Lodges has missed out in a battle to acquire the independent Tom Cobleigh pub group.

The Rank Organisation has announced that it has agreed a £95.6 million takeover deal for Tom Cobleigh, which has its headquarters in Mansfield and specialises in out of town "unspoilt pubs for nice people." Yates' bid is understood to have been discussed over several months and until last Tuesday it was thought to be the front runner to acquire the pub group, which has 44 branded and 17 tenanted properties.

A major expansion plan is currently underway.

Earlier this year the company announced that it had identified three Bolton area sites as part of a £25 million expansion into the North-west from its main areas of Nottinghamshire, Yorkshire and Staffordshire.

A spokesman said then that Tom Cobleigh built entirely new pubs or converted existing non-licensed premises such as farmhouses.

The family-orientated pubs usually covered about 3,000 sq ft and cost about £1.7 million each.

Rank said it wanted to develop Tom Cobleigh as an independent business as well as integrating new pubs into future leisure locations.

Tom Cobleigh, which was founded by Mr Derek Mapp with just one pub nearly four years ago, had an operating profit of £3.9 million against £2.6 million for the 12 months up to March.

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