Red Oak on the acquisition trail
Red Oak Taverns has confirmed that it has completed the acquisition of three pubs from Reclamation Inns.
Red Oak Taverns, the independent pub operator, has confirmed that it has completed the acquisition of three pubs from Reclamation Inns for an undisclosed sum.
The three pubs, The Great Western, Bewdley; The Railway in Alsager, Crewe; and The Black Boy, Bridgnorth, will be added to the pub company’s current portfolio of 177 pubs.
“These sites are a perfect match for our business and are fantastic community pubs," says co-founder and chief executive Mark Grunnell. "We are looking forward to welcoming the tenant partners and their established businesses to our pub company in readiness for when we all reopen.”
Red Oak was founded in 2011 and has since grown to 180 tenanted and free-of-tie sites, with the most recent multiple acquisitions being from Wadworth and Reclamation Inns.
“We want to look beyond these difficult times and continue to invest in and grow our business," adds Grunnell. "We are in a financially stable position and although the pandemic has slowed down our investment plans, we are focused on looking for more pub acquisition opportunities now and in the future.”