Admiral Taverns has formed a partnership with Scotland's largest hospitality group, G1 to acquire a portfolio of 29 pubs from Star Pubs & Bars, comprising 12 pubs in Scotland and 17 across England and Wales.
The portfolio has been brought to the market as a result of the Competition and Market Authorities (CMA) investigation into Heineken’s acquisition of the Punch A portfolio and is comprised of pubs from both Star Pubs & Bars and Punch A. The acquisition is anticipated to complete at the end of November.
In the short term, Admiral will take over the management of 17 of the pubs in the portfolio, which are spread across England and Wales, and will then acquire these pubs from G1 on completion of its own change in ownership. G1 will retain the 12 pubs located in Scotland.
Admiral is currently completing on the sale of its own business, with new investors Proprium Capital Partners and C&C Group supporting its ambitious growth strategy.
Admiral Taverns’ Chief Executive Kevin Georgel said, “Just over a month ago we announced new investment into our own business. Our new investors support our ambitious growth plans and as stated at that time we intend to be at the forefront in reviewing all opportunities as and when they arise in the market.
'This acquisition is early testament to our commitment to this growth strategy and I am delighted to be able to welcome these high quality licensees and pubs in to the Admiral business.
“We have an excellent track record of integrating new pub portfolios into our estate and working together with these licensees to invest behind their pub business, building progressive, working partnerships.”
Champions of the tenanted business model, over the last five years Admiral has developed a high-quality estate of around 845 predominantly wet-led pubs, which sit at the heart of their local communities.