Punch aims to land knockout bid for North-West counterpart
The owners of Burton-on-Trent-based Punch Pubs are weighing up a takeover of Blackpool’s Amber Taverns in a deal which would create a 1,500-venue group.
Sky News says that Punch, owned by US-based Fortress Investment Group, is one of the crowd of potential investors for Amber Taverns, with Heineken and Admiral Taverns also in the hunt.
The sale process is being run by Sapient Corporate Finance and the auction could reach the £200m mark – although Sky News says inflationary fears could see a lower sale figure realised.
Amber Taverns is owned by MxP, the investment vehicle set up by the former Weetabix controlling shareholder, Michael George. It also has backing from Ares Capital Management and trades from around 160 venues.
Any deal would see Punch reaffirm its position as the UK’s largest pubco.