Oakman sells 10 freeholds to The Restaurant Group
The Oakman Group has sold 10 freehold pubs to The Restaurant Group.
The Oakman Group has sold 10 freehold pubs to The Restaurant Group (TRG), leaving the business with a trading estate of 22 venues.
Following the deal, Brunning & Price, the pub division of TRG, will consist of 89 pubs, as it looks to increase the amount of rooms within its portfolio.
"Expanding our pub estate is a major strategic priority for us and we are delighted to have this opportunity to add 10 high-quality freehold pubs to our portfolio," says Andy Hornby, CEO of TRG. "We are confident that the Brunning & Price team, under Mary Willcock’s leadership, will provide an excellent home for the hard-working teams from Oakman."
Perfect 10
The 10 pubs acquired are: The Cherry Tree, Olney; Royal Forester, Ascot; White Hart, Ampthill; Crown and Thistle, Abingdon; Grand Junction, Buckingham; Blue Boar, Witney; Akeman, Tring; Globe, Warwick; Akeman Inn, Kingswood; and Banyers House, Royston.
With Oakman founder Peter Borg-Neal (pictured) currently away from the business due to ill health, the group is being led by non-executive chair John Leslie. Despite concerns over the future of Oakman, the group believes the TRG deal will allow for a renewed focus and energy in the company.
"We have long admired Oakman Inns for the quality and character of its pubs and we are thrilled to welcome these pubs, and the dedicated teams behind them, into our B&P family," adds Willcock.
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