Red Oak Taverns acquires 10 pubs and plans further investment

17 February 2021 by
Red Oak Taverns acquires 10 pubs and plans further investment

Red Oak Taverns has acquired 10 leased and tenanted pubs from regional brewer Wells & Co for an undisclosed sum.

The sites are all based in Bedfordshire, Buckinghamshire and Northamptonshire and take Red Oaks' portfolio to a total of 190 sites.

This is the second round of acquisitions for the company in 2021, following the purchase of three pubs from Reclamation Inns for an undisclosed sum last month.

Red Oak was founded in 2011 by Mark Grunnell and Aaron Brown and is still privately owned.

Grunnell said of the sale: "These pubs are a mix of rural destination food venues and community pubs, which are a perfect match for our business and we look forward to welcoming the tenants and their teams to Red Oak Taverns."

The group is also seeking additional funding for further investments.

Grunnell added: "Following this acquisition we are finalising terms for additional capital of £35m to take advantage of immediate investment opportunities. The pandemic has in some part slowed our plans but with the additional funding and an established and focused team, we are ready to take our business through the next phase of its evolution."

A number of high-profile investors have been eyeing the pub market ahead of a predicted post-pandemic boom.

Former Greene King boss Rooney Anand has raised around £200m to finance a takeover spree through his RedCat pub company, while Oakman Inns is aiming to double the size of its business over the next five years.

The Caterer Breakfast Briefing Email

Start the working day with The Caterer’s free breakfast briefing email

Sign Up and manage your preferences below

Check mark icon
Thank you

You have successfully signed up for the Caterer Breakfast Briefing Email and will hear from us soon!

Jacobs Media Group is honoured to be the recipient of the 2020 Queen's Award for Enterprise.

The highest official awards for UK businesses since being established by royal warrant in 1965. Read more.

close

Ad Blocker detected

We have noticed you are using an adblocker and – although we support freedom of choice – we would like to ask you to enable ads on our site. They are an important revenue source which supports free access of our website's content, especially during the COVID-19 crisis.

trade tracker pixel tracking