The FINANCIAL -- London-based pub company Fuller, Smith & Turner has agreed to buy 15 freehold tenanted pubs from rival Enterprise Inns, according to Caterer and Hotelkeeper.

Fuller's is paying £22.9m in cash for the pubs, which generated operating profits of £1.7m in the year to 30 September 2011. The transaction will enhance Fuller's earnings immediately upon completion, which is expected to take place by the end of March.

The acquisition will extend the company's reach into areas of the west and south east of England where it has previously been under-represented, while increasing its presence in core trading areas such as Hampshire.

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