Red Oak Taverns acquires pub estate in Bristol
Red Oak Taverns has completed the acquisition of eight free-of-tie pubs in Bristol.
Red Oak Taverns has completed the acquisition of eight free-of-tie pubs in Bristol from Euphorium Pubs Limited for an undisclosed sum.
It is the fifth portfolio acquisition this year by the independent pub operator, growing its estate to 208 pubs.
“We are delighted to add these eight free of tie pubs located across Bristol to compliment our already significant free-of-tie estate," says Mark Grunnell, co-founder and chief executive for Red Oak Taverns. "There’s plenty of scope to build trade at each of them and we are looking forward to integrating the pubs into the Red Oak business.”
Grunnell and Aaron Brown founded Red Oak Taverns in 2011, with the pub estate mainly concentrated in the south, south west, north west and the Midlands.
“Our ability to operate a range of agreements that are flexible and are specifically tailored to each pub and the operator rather than a rigid business model mean we have more options when considering pub purchases," adds Grunnell. "We continue to seek out the right opportunities and are confident we can accelerate our plans and substantially grow the size of our pub estate with our ongoing acquisition strategy.”