Admiral Taverns has agreed to the purchase of 150 community pubs from Heineken’s Star Pubs & Bars.
The acquisition marks the latest stride forward in Admiral’s strategy to be a leading operator of community pubs.
The pubco, which is owned by Tennent’s lager owner C&C and Proprium Capital Partners said that the deal will take its estate from 800 to 950 venues. The estate is predominantly wet-led, with sites across England, Scotland and Wales.
“We are delighted to announce another important step forward in our strategy and ambitions for the business,” said Admiral’s chief executive Chris Jowsey.
“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.”
Financial details behind the deal were not disclosed.
Commenting on the sale CAMRA National Director Ben Wilkinson said: “Far too often, we see large, regulated pub companies offload unwanted sites to property companies or retail businesses with little interest in their long term future. So it is good to see in this case an operator with experience of the tenanted model emerging as buyer – and crucially, that the tenants of these pubs will continue to have the legal protections of the Pubs Code.
“It is heartening to see Admiral’s initial commitment to integrate these pubs into their estate and their welcoming words to their incoming licensees.”
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