Red Oak Taverns buys 19 pubs from Marston's

Red Oak Taverns has acquired 19 tied tenanted pubs from Marston’s as part of its ongoing growth plans.

 

It is the third deal between the two groups in the last 15 months and takes Red Oak’s total portfolio to 246 pubs across the country.

 

Red Oak was founded in 2011 by Mark Grunnell and Aaron Brown and is still privately owned.

 

The group has now acquired a total of 26 pubs from Marston’s, with the two previous transactions involving free of tie pubs.

 

Grunnell said: “I would like to extend a special welcome to those tenant partners transferring over to the Red Oak Taverns family. Initial welcome meetings have already been held, and we look forward to developing investment plans together in the coming weeks.”

 

Red Oak, which secured a £110m loan in 2022, said it was “well-capitalised” and was continuing to seek out growth opportunities through portfolio and single-site acquisitions.

 

It is the second major pub sale to be announced this week after Admiral Taverns agreed to purchase 37 freehold pubs from Fuller’s for £18.3m.

 

The Red Oak transaction was facilitated by Fleurets and Freeths LLP, acting for the buyer’s side, and Christie & Co and Deloitte Legal, who acted for the seller.

 

Terms of the deal were not disclosed.