Stonegate Group has just announced that it has today agreed to dispose of a package of 42 pubs to RedCat Pub Company for an undisclosed sum. The acquisition is expected to complete in the summer.
Following the agreement by Stonegate to acquire Ei Group plc in July 2019, the Competition and Markets Authority (CMA) mandated Stonegate to dispose of 42 pubs which it had identified to address competition concerns in relevant local areas.
The package of pubs comprises 30 freehold and 12 leasehold sites and consists of 32 former Ei Group- owned properties and 10 former Stonegate sites.
Following completion of the disposal, Stonegate Group will comprise 4,630 venues – consisting of 1,290 Managed and 3,340 Leased and Tenanted pubs, establishing the Group’s position as one of the UK’s leading pub companies.
Looking ahead, the group is currently preparing for a phased reopening of its pubs and bars in line with the Government’s roadmap over the weeks ahead.
Approximately 45% of its Managed pubs will open on 12 April, with the remaining Managed sites reopening throughout May and June as restrictions ease. It is anticipated that approximately 60% Leased and Tenanted sites are also planning to reopen 12 April.