The Board of Admiral Taverns (“Admiral”), has announced that it has reached an agreement to acquire a portfolio of 18 freehold pubs from Marston’s PLC (“Marston’s”).
The portfolio of 18 high-quality wet-led establishments spans the UK, located in counties including Dorset, Derbyshire and Yorkshire. The acquisition brings Admiral’s total estate to over 1,420, further strengthening its portfolio of community focused pubs which support and give back to their local communities.
The deal is Admiral’s second of the year, delivering against its strategy of profitable expansion, following its purchase of 37 pubs from Fuller, Smith and Turner PLC (Fuller’s) in May. These 37 pubs strengthened Admiral’s presence in the South-East of England, taking the Group’s number of pubs in the region to over 300.
Admiral has a successful track record of acquiring community pubs and unlocking growth opportunities through its award winning, licensee-centric approach. This year, the Group was awarded the ‘Best Community Pub Operator’ Award at the Publican Awards and is continuing its strategic commitment to invest in and grow its pubs, investing over £38 million in the last 12 months in key areas including major refurbishments and sustainability upgrades to individual pubs.
Chris Jowsey, CEO of Admiral Taverns, commented:
“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.”
“The deal also highlights the positive momentum and real resilience we’ve seen in the sector, particularly across our wet-led community estate as people have used their local pubs in recent months to enjoy a summer of sport with both the Euros and the Olympics encouraging people to visit. We remain optimistic that our licensee-centric approach, entrepreneurial licensees and high-quality estate continue to put us at the forefront of opportunities in our wider market.”
Andy Kershaw, Director of Property at Marston’s PLC, commented:
“This sale further demonstrates our objective to review our estate in line with our strategic goals. We have a long-term relationship with our colleagues at Admiral, and it is the perfect home for these pubs which align well to their business.”
