Agilo, the investment fund which recently bought the Sports Café chain, has acquired bar operator Candu for an undisclosed sum.

The Close Brothers bought Candu – which owns around 33 sites in the UK – from Luminar in 2005. It is understood that around 13 of the sites will close.

Jason Granite, founding partner of Agilo, said: “I can confirm we have acquired the business and assets of Candu. This transaction has allowed the business to shed its unprofitable venues and created a highly profitable leisure group. We remain very excited about other opportunities in the sector.

“The main board will consist of Tim Roberts, James Spragg and Martin Brayshaw. They have a wealth of experience and we are providing significant funds for the team to help grow the business.”

Agilo acquired five Sports Café sites in January as part of a rescue deal after the chain was put into administration.