UK- Community pub group Admiral Taverns has completed an agreement to purchase 18 tenured pubs from brewing and pub retailing business Marston’s PLC.
The 18 freehold pubs are located throughout the United Kingdom, with locations in Yorkshire, Derbyshire and Dorset.
The financial terms of the agreement have not been made public.
Andy Kershaw, Marston’s property director, reiterated that the sale demonstrates the positive working relationship with Admiral Taverns. He expressed confidence that the strategic alignment between the two companies assures Admiral’s capability to ensure the 18 pubs are well-managed.
The deal increases the community pub group’s total portfolio to 1,420 pubs, which further enhances its assortment of community-focused establishments.
The agreement is Admiral Taverns’ second acquisition of the year, which it describes aligning with its growth strategy.
In May, the community pub group purchased 37 pubs from Fuller, Smith & Turner for £18.3 million (US$23.3 million). The freehold community pubs are located across the UK, in London, Surrey, Sussex, and Hampshire.
The acquisition significantly increased Admiral’s presence in Southeast England, increasing the pub group’s total number of pubs in the region to more than 300.
As part of its growth strategy, Admiral also allocated £38 million (US$49.7 million) for major renovations to its pubs, intended to enhance their appeal and customer experience.
In March, the community pub group reopened the White House Pub in Gosport, following a £239,000 (US$312,569) investment.
Chris Jowsey, Admiral Taverns’ CEO, welcomed the move, saying, “I’m looking forward to welcoming these licensees to Admiral Taverns and working together to grow these pubs as profitable small businesses and social hubs for their communities.”
“We have a strong relationship with Marston’s and are delighted to make this acquisition, delivering against our strategy to grow our estate of profitable, community pubs.”
Jowsey also reiterated Admiral’s resilience in the pubs and restaurants sector over the past year. High inflation has increased costs, which have been translated to higher prices for customers.
However, outlier events like the Olympics and the Euros, as well as the support it offers its licensees from operations to marketing, training and property management, have helped reinforce Admiral’s resilience.
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