Admiral Taverns, in partnership with G1 Group, has acquired an estate of community pubs from Heineken’s Star Pubs & Bars business.
G1 Group will acquire a portfolio of 29 pubs from Star Pubs & Bars, comprising 12 pubs in Scotland and 17 across England and Wales. The portfolio had been brought to the market as a result of the Competition and Market Authorities (CMA) investigation into Heineken’s acquisition of the Punch A portfolio and is comprised of pubs from both Star Pubs & Bars and Punch A.
Admiral is currently completing on the sale of its own business, with new investors Proprium Capital Partners and C&C Group supporting its growth strategy. Admiral will take over the management of 17 of the pubs in the portfolio which are spread across England and Wales and will then acquire these pubs from G1 Group on completion of its own change in ownership. In the short term, G1 Group will retain the 12 pubs located in Scotland.
“Just over a month ago, we announced new investment into our own business,” comments Admiral Taverns’ chief executive Kevin Georgel. “Our new investors support our ambitious growth plans and as stated at that time we intend to be at the forefront in reviewing all opportunities as and when they arise in the market. This acquisition is early testament to our commitment to this growth strategy and I am delighted to be able to welcome these high quality licensees and pubs in to the Admiral business.”