UK pub chain could sell for £300m

British pubs and bars group Barracuda could go up for sale in a move analysts believe would value it at around £300m (€436m), it emerged today.

The owner of Barracuda, which owns the Varsity, Smith & Jones (S&J) and Barracuda bar chains, confirmed it had appointed investment bank Citigroup to look at a number of strategic options.

These include a sale to a private equity firm, a stock market flotation or a refinancing.

Although private equity owner PPM put no price tag on the firm, it is believed by analysts to be worth around £300m.

Barracuda was founded in July 2000 and runs 155 pubs and bars in England and Wales under its three main brands, employing more than 3,500 staff.

It has been pursuing a strategy of opening more than 25 new outlets each year in towns and university centres.