Mercantile pub group owners Michael Breslin and Maurice Regan have agreed to sell their Ardmore Lodge Nursing Home to care home specialist CareChoice for €15 million.
CareChoice, which is chaired by Jimmy Tolan of VHI and owned by French investor fund InfraVia, is seeking to expand through acquisitions and organic growth to become Ireland's largest care home operator.
The deal follows Breslin and Regan's sale of a site in the Dublin suburb of Beaumont to the healthcare arm of Bartra Capital Property Group in December of 2017. Ardmore Lodge is the last nursing home asset of Breslin and Regan, who wish to concentrate on their portfolio of pub interests within the Mercantile Group, a source with knowledge of the pair's plans told The Sunday Business Post.
The Mercantile Group is said to be spearheading a €30 million capital programme of investment in its bar portfolio, which currently includes Dublin's Nolita, Opium and Café en Seine venues.
