Pubs operator in deal to take over 150 ‘wet-led’ sites
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Chester-based pubs and bars operator, Admiral Taverns, has reached a deal to acquire 150 sites from Heineken-owned Star Pubs & Bars.
The deal, for an undisclosed sum, will take community pub operator Admiral’s portfolio from 800 to 950 mainly wet sales-led sites throughout England, Scotland and Wales.
Heineken bolstered its pubs estate after acquiring 1,900 from Punch in 2016 as part of a £140m investment.
Admiral is backed by investors Proprium Capital Partners and C&C Group.
Chris Jowsey was recently appointed as chief executive to lead the group’s next phase of development, leaving Heineken to replace Kevin Georgel.
Admiral relocated from London to Chester earlier this month to better accommodate its expanding operations and support teams.
Chris Jowsey said: “We are delighted to announce another important step forward in our strategy and ambition for the business.
“Admiral has a strong track record of integrating new acquisitions and these new pubs will significantly increase our presence across the UK.”
He added: Core to Admiral’s approach is our commitment to invest behind our pubs and licensees, supporting them to build vibrant social hubs that can thrive at the heart of their local communities.
“Through this acquisition we are delighted to be able to bring so many new dedicated licensees into our business.
“On behalf of the team I would like to officially welcome them all to Admiral and look forward to building our long-term working partnerships.”
DLA Piper, with a team led by Richard Thompson, advised Star Pubs & Bars.
Addleshaw Goddard, with a team led by Paul Barnard and Duncan Wilson, advised Admiral Taverns.