Thistle Pub Company III – the pubco recently launched under the Enterprise Investment Scheme – has made its first acquisition.

Thistle has bought The Clockwork Beer Company public house in the Battlefield area of Glasgow.

Steve Mallon, managing director of operating company Maclay Inns, said: “Based on the high level of demand from investors, Thistle is on track to raise its target £7.5m of equity well ahead of the planned closing date of May.”

Thistle and Maclay are planning to expand throughout Scotland.