Admiral Taverns buys 111 Heineken pubs

CHESTER-based Admiral Taverns has acquired 111 tenanted pubs from Heineken’s Star Pubs and Bars business for an undisclosed sum.

Heineken said the deal, expected to complete next month, would allow it to free up resources and focus on on its “core estate”.

Admiral Taverns, which was acquired by US buyout group Cerberus for around £200m in January 2013, has around 1,000 pubs nationwide.

Chief executive Kevin Georgel said: “We are delighted to acquire these high-quality pubs, which are a great addition to the Admiral estate.

“This transaction is an induction of our intention to develop the Admiral business and reinforces our position as the country’s leading community pub group. We look forward to welcoming these new licenses to Admiral, and to working with them and Heineken to ensure a smooth transition.

“We are confident that these pubs have a vibrant future, and that with our award-winning approach to supporting community pubs, we can help these licensees to maximise the potential of their businesses.”

CBRE advised Heineken on the sale.