Entrepreneur Steve Perez has bought The Red Lion & Peak Edge Hotel, which was founded by his father.
The Derbyshire hotel was founded in the 1960s by Santiago Perez. It was known as one the of region's finest restaurants under Perez's tenure, but the family were forced to sell it when he died in 1975. Since then, it has had several owners. It is well-known and a popular wedding venue.
Steve Perez created the alcoholic drink VK and set up Global Brands, and is a CBI winner of "UK Entrepreneur of the Year". The company has evolved from a man operation to an international company, to now selling 17 drink brands in 57 countries worldwide.
Perez said: "When I heard the Red Lion was possibly up for sale I knew I had to seize the opportunity. I have many fond memories there and learnt the foundations of business from my father, which have helped me throughout my career. It is a great personal achievement to buy back the Red Lion, but the decision was made for sound financial and business reasons and it fits perfectly with my ambition to expand my portfolio of quality hotels in Derbyshire."