Red Oak Taverns has completed the acquisition of three tied tenanted pubs this week from Liberation Group for an undisclosed sum. The pubs are based in the South West of England and are operated by tenants under substantive agreements. This is the first portfolio acquisition for Red Oak since the major refinancing of the business in March.
Mark Grunnell, the co-founder and chief executive for Red Oak Taverns said,
“We are pleased to be adding these pubs to our estate and look forward to welcoming the tenant partners to the Red Oak family. They fit very nicely into our South West estate which already has our largest concentration of Red Oak pubs in the UK”.
Red Oak Taverns was founded in 2011 by Mark Grunnell and Aaron Brown and the pub estate comprises of 208 free of tie and tied pubs.
Grunnell added, “We are keen to deploy the capital we have available following our refinancing to grow our business and add assets to our estate such as this latest acquisition and continue to seek both small and much larger portfolio opportunities”.
List of pubs acquired:
Old Station Inn, Hallatrow, Bristol
Podymore Inn, Podimore, Yeovilton, Yeovil
Wiltshire Yeoman, Trowbridge, Wiltshire