Punch Pubs & Co has been acquired by Fortress Investment Group, a US-based investor owned by Japan’s SoftBank, for an undisclosed sum.
Fortress Investment Group said it had acquired 100 per cent of the firm’s share capital on Wednesday.
The pub group comprises 1,300 venues in the UK, made up of wet-led, community pubs. It is largely focused on a suburban and rural estate, which has helped it navigate some of the challenges of the pandemic.
Punch Pubs bought 56 pubs from Young’s Ram Pub Company in July.
Cyril Courbage, managing director, Fortress Investment Group, said the pub company had done an “exceptional job” at weathering the Covid crisis and the business was positioned “for long-term growth and value creation.”
He described the UK as “an extremely attractive investment environment,” and said the investment group would “explore other opportunities in this sector.”
Clive Chesser, Punch Pubs & Co. CEO, said Fortress would “work alongside the existing management team to invest in the business with innovation and capital to ensure our long-term success in what is a highly competitive market.”