Veteran venture capitalist Jon Moulton has vowed to “improve Jongleurs comedy club’s jokes” by snapping up its parent company Intertain for £20m.
Moulton’s Better Capital now owns Intertain’s 26 Walkabout sites, six unbranded pubs and five Jongleurs comedy clubs.
The sale comes as Walkabout’s parent company Intertain collapsed and was taken over by Barclays Bank, Royal Bank of Scotland and Candle Wick, a debt fund run by American investment bank Goldman Sachs. Intertain was formed in 2009 after pub operators Regent Inns, then owners of Walkabout, went into administration.
Speaking about the sale, Moulton told the Telegraph: “The major issue the company had was the lack of investment, this deal de-gears the balance sheet.
“I’m not going to be making radical changes to the company – making it for teetotallers and serving just hot drinks”, he said. “As for Jongleurs – maybe I’ll just improve the quality of its jokes.”
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