Red Oak Taverns buys 17 St Austell sites
Red Oak Taverns is once again adding to its 212-strong portfolio.
Red Oak Taverns is set to purchase 17 pubs from St Austell Brewery’s leased and tenanted estate, adding to its 212-strong portfolio.
The deal, which is due to complete on Tuesday 31 October, includes sites across Cornwall, Devon and Somerset, such as The Rolle Quay in Barnstaple, The White Hart in Launceston and The Four Lords in Par.
Red Oak has already made several acquisitions in 2023, from companies including Everards, McMullen’s and Marston’s. The St Austell purchase will further extend Red Oak’s south west footprint.
"We are delighted that St Austell Brewery, a fellow independent business with a rich history of running great pubs, chose to work with us in selling these assets," says Mark Grunnell, chief executive of Red Oak Taverns, who co-founded the business in 2011 with executive chairman Aaron Brown. "We’re committed to the continued growth of our pub portfolio and this package of acquisitions will further strengthen Red Oak’s presence in the south west region.
"It’s important to us that we ensure ongoing consistency for pub guests and our new tenants, and I would like to thank Kevin [Georgel, St Austell CEO] and the team at St Austell Brewery for working positively with us to effect a smooth transfer for these community assets."
Established in 1851, Cornwall-based St Austell Brewery owns 184 pubs, inns and hotels across the West Country, including managed houses and leased and tenanted sites. Last month, the company announced the acquisition of The Bath Pub Company.
"Unlocking the full potential of our pub estate is a priority for us, as we continue to develop our business for the future," says Georgel. "As part of our commitment to ongoing investment and growth, we are continuing to proactively manage our estate, aligned to our refreshed and focused strategy. This means ensuring all our pubs have a strong alignment with our long-term plans and continue to fit our focus in terms of market and consumer positioning.
"As a business, which is committed to supporting its tenanted partners and investing in its pubs, we are confident that Red Oak is the best possible custodian for these pubs and will ensure their ongoing success."
The full list of pubs acquired:
- Bettle & Chisel, Delebole
- White Horse, Launceston
- Radjel Inn, Pendeen
- Wellington, St Just
- New Inn, Park Bottom
- Dolphin, Exeter
- Western, St Austell
- Four Lords, Par
- Kings, Lostwithiel
- White Hart, Modbury
- Old Smithy, Ivybridge
- Dolphin, Grampound
- Cat & Fiddle, Exeter
- Holly Tree, Exmouth
- Racehorse, Taunton
- Windmill Inn, Williton
- Rolle Quay Inn, Barnstaple