Luminar has announced it is to acquire 10 nightclubs from the Nightclub Company for £9.8m in cash.

The large-capacity clubs, which will all benefit from extended opening hours once the new licensing regulations take effect on 24 November, are set to be refurbished and converted into Luminar’s existing brands, Oceana, Lava & Ignite, Liquid and Life.

Located in Leeds, Cheshire Oaks, Leicester, Wolverhampton, Cardiff, Watford, Uxbridge, Kingston upon Thames, Brighton and Plymouth, the new sites will boost Luminar’s capacity by more than 10 per cent.

The company has also reiterated that it no longer plans to sell its entertainment division – despite recent reports that several parties were interested in its acquisition – and has instead appointed new management and is focusing on improving the performance of the business.