Red Oak Taverns acquires three pubs from Liberation
Red Oak Taverns has completed the acquisition of three tied tenanted pubs from Liberation Group.
Red Oak Taverns, the pub company led by Mark Grunnell and Aaron Brown, has completed the acquisition of three tied tenanted pubs from Liberation Group for an undisclosed sum.
The pubs are based in the south west of England and are operated by tenants under substantive agreements. The three purchased are the Old Station Inn in Hallatrow, Bristol; the Podymore Inn in Yeovilton, Yeovil; and Wiltshire Yeoman in Trowbridge, Wiltshire.
This is the first portfolio acquisition for Red Oak since a major refinancing of the business in March.
“We are pleased to be adding these pubs to our estate and look forward to welcoming the tenant partners to the Red Oak family," says Grunnell. "They fit very nicely into our south west estate which already has our largest concentration of Red Oak pubs in the UK.”
Red Oak Taverns was founded in 2011 by Grunnell and Brown and the pub estate now comprises 208 free-of-tie and tied pubs.
“We are keen to deploy the capital we have available following our refinancing to grow our business and add assets to our estate such as this latest acquisition and continue to seek both small and much larger portfolio opportunities,” adds Grunnell.