Red Oak buys pub portfolio from Wells & Co

Red Oak Taverns has acquired its second pub package of 2021, increasing its estate to 190. 

The package of 10 leased and tenanted pubs acquired from Wells & Co are all based in the Bedfordshire, Buckinghamshire and Northamptonshire areas. 

“We are delighted to secure a further portfolio of quality pubs to join our business," says Mark Grunnell, chief executive of Red Oak. "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.”

Following this acquisition, Red Oak is 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," adds Grunnell.

Wells & Co were advised by Simon Chaplin of Christie & Co during the sale.