In This Article:
UK-based pub company Red Oak Taverns has expanded its portfolio with the acquisition of 19 tied tenanted pubs from Marston's.
The financial specifics of the deal have not been disclosed by either company.
The transaction represents the third collaboration between Red Oak Taverns and Marston's since February 2023.
Marston’s property director Andy Kershaw said: “We are pleased to complete this sale to Red Oak in line with our stated strategic objectives whilst matching a good partner for the long-term futures of these pubs and their operators.”
Red Oak has so far acquired 26 pubs from Marston's, increasing its total number of establishments to 246.
The previous two deals between the companies involved free-of-tie pubs.
According to Red Oak Taverns, it is still in a healthy financial position and aggressively seeking new acquisition prospects to increase its market share.
Red Oak co-founder and CEO Mark Grunnell said: “We are delighted to have completed the purchase of these high-quality pubs in a third successful deal with Marston’s.
“The ability to deliver, especially in times where the cost of capital is high, is crucial between any seller and buyer, and we have built a strong relationship with the Marston’s team.
“I would like to extend a special welcome to those tenant partners transferring over to the Red Oak Taverns family. Initial welcome meetings have already been held, and we look forward to developing investment plans together in the coming weeks.”
The acquisition process was supported by Fleurets and Freeths, who provided services for the buyer. Christie & Co and Deloitte Legal represented the seller.
In January 2024, Red Oak Taverns acquired four pubs from Marston’s: the Pied Bull in Shepshed, the Prince Albert in Kingswinford, the Queen’s Arms in Bakewell and the Victoria in Oxford.
"Red Oak Taverns acquires 19 UK pubs from Marston’s" was originally created and published by Verdict Food Service, a GlobalData owned brand.
The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.