Red Oak Taverns has completed the acquisition of eight free of tie pubs in Bristol from Euphorium Pubs Limited for an undisclosed sum. This makes it the fifth portfolio acquisition this year by the independent pub operator growing their estate to 208 pubs operating on a range of flexible agreements.
Co-founder and Chief Executive for Red Oak Taverns, Mark Grunnell said, “We are delighted to add these eight free of tie pubs located across Bristol to compliment our already significant free of tie estate. There’s plenty of scope to build trade at each of them and we are looking forward to integrating the pubs into the Red Oak business”.
Mark Grunnell and Aaron Brown founded Red Oak Taverns in 2011 and the pub estate comprises of a mix of free of tie and tied pubs.
Grunnell added, “Our ability to operate a range of agreements that are flexible and are specifically tailored to each pub and the operator rather than a rigid business model mean we have more options when considering pub purchases. We continue to seek out the right opportunities and are confident we can accelerate our plans and substantially grow the size of our pub estate with our ongoing acquisition strategy”.