Admiral Taverns purchases 17 pubs from under investigation Heineken

02/11/2017 - 07:00
Community pub company, Admiral Taverns, has bought 17 of Heineken’s Star Pubs & Bars sites.

The sale comes off the back of the Competition and Market Authorities (CMA) investigation into Heineken’s purchase of a large portfolio of pubs from Punch Taverns.

Admiral is partnering Scottish hospitality company, G1 Group, on the acquisition with G1 taking 29 pubs from Star Pubs & Bars, 12 in Scotland and 17 across England and Wales.

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.

In the short term, it 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 has invested heavily in its estate in recent years, in acquiring and integrating acquisitions, most recently purchasing 111 pubs from Star Pubs & Bars in 2014.

Chief executive of Admiral Taverns, Kevin Georgel, said: “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 business.

“Today, our nationwide estate of community pubs showcases the supported-tied model at its best. 

“Through our distinct and award winning operational approach, our dedicated and passionate team have worked hard to build strong and enduring relationships with our licensees. 

“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.”

Admiral, whose overall portfolio of predominantly wet-led pubs stands at 845, expects the acquisition to be complete at the end of November.

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