Red Oak Taverns is to acquire nine Business Partnership (tenanted) pubs from Dorset family brewers, Hall & Woodhouse, making it Red Oak’s third pub package acquisition in 2021.
Co-founder and Chief Executive of Red Oak, Mark Grunnell said, “We are delighted to be acquiring these high quality pubs from Hall & Woodhouse and very much look forward to welcoming their hardworking business partners to Red Oak Taverns. This acquisition will be the third portfolio acquisition this year for us and shows our commitment to growing a quality pub estate throughout the UK by working with pub owners and family brewers in a professional and diligent way. These highly performing pubs will be a great fit to our business.
“The commitment to growing our business remains undiminished by the pandemic and this will be the third portfolio acquisition we have made this year, we have also added three individual pubs to our estate, taking our total acquisitions this year, so far, to 25 pubs. The pandemic has only temporarily interrupted our growth plans and we are ready to take advantage of investment opportunities that become available with a view to doubling the size of our business over the next two years”.
Matt Kearsey, Managing Director of Hall & Woodhouse, said: “We have always actively managed our pub estate, and made the decision to sell these pubs to take advantage of strong demand, in order to reinvest in other properties which are better aligned to the long-term strategy of our excellent Business Partnership estate.
“We are currently seeing some exciting opportunities in the market to buy high quality pubs in prime locations, often with accommodation. We have already bought two freehold pubs, and have a further five sites in solicitors’ hands.
“We thank our business partners for their loyalty over the years, it has been a pleasure working with them, and we are confident that their pubs will continue to thrive under Red Oak’s ownership.”
The pubs are largely community and rural destination venues. Simon Chaplin at Christie & Co advised Red Oak on the transaction. Hall & Woodhouse were not represented.