Pub and bar operator, the Hartford Group, is to acquire Jamies, the London-based wine bar chain for £4.8m.

The deal which values Jamies at around 67.5p a share, will add 17 London bars to Hartford's portfolio and is expected to be followed by further acquisitions as Hartford evolves from a restaurant-driven businesses to an operator of 'quality style-led bars.'

Hartford, which owns the Damien Hirst-designed Pharmacy bar in west London, is raising £1.4m through a placing and open offer to help finance the deal. The group is offering 30 new Hartford shares for every Jamies share, which will leave 45 per cent of the combined group in the hands of Jamies' shareholders.

Hartford chairman, Stephen Thomas, said the deal would capitalise on the strengths of both companies: 'It provides immediate scale and presence for Hartford in two of its chosen market segments - city bars and city centre bars - as well as the opportunity for purchasing synergy and cost savings.' Details: +44 (0)20 7654 3010