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		</div><p><a href="http://londonglossy.com/wp-content/uploads/2010/12/pub-chain-sold-for-60-million.jpg"><img class="alignnone size-full" title="A couple have sold the pub company they set up 15 years ago to brewing firm Young's" src="http://londonglossy.com/wp-content/uploads/2010/12/min-pub-chain-sold-for-60-million.jpg" alt="A couple have sold the pub company they set up 15 years ago to brewing firm Young's"/></a></p>
<p>A couple have sold the pub company they set up from scratch 15 years ago to a major chain for £60 million.</p>
<p>Pub and brewing firm Young&#8217;s bought Geronimo Inns &#8211; which owns 26 individually-designed properties &#8211; from Rupert and Jo Clevely and investment firm Penta Capital, a majority shareholder.</p>
<p>The couple, who own 33% of the business, are set to pocket around £8 million from the sale, which includes debt of £35.5 million.</p>
<p>Geronimo generates an average weekly turnover of £23,000 per pub and was set up in 1995 when the Clevelys returned from Australia with ideas on how to revive the British pub.</p>
<p>Mr Clevely, 53, will stay on as managing director of Geronimo, and join the Young&#8217;s board as an executive director, while Mrs Clevely will continue to work on the pub design, which is central to its core strategy.</p>
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