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PRINT THIS PAGE Charterhouse buys UK Barracuda pub group from PPM Capital28/06/2005. Source: AltAssets. 
 Pan-European private equity firm Charterhouse has bought UK pub chain Barracuda Group for £262m from PPM Capital, the private equity arm of UK insurer Prudential. The sale has earned PPM a return of around three times its investment.
Barracuda operates around 160 managed outlets across the UK operating under brands including Smith & Jones, Varsity, Barracuda Bar and Barracuda pubs.
The group was formed in 2000 when PPM backed the £50m management buy-out of 35 pubs from Enterprise under Mark McQuater. PPM invested a total of £55m in the business.
James Barton, director of PPM, said, 'Barracuda has been a highly successful investment for PPM, returning around three times our original investment and represents our third major divestment this year.'
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