Punch buys package of five pubs

Punch Taverns, the country's largest pub chain, has completed a package deal for five sites in the North-east.

Punch has bought five managed pubs from Newcastle's John Fitzgerald and will now convert them to its leasehold business model.

Rob Godwin-Bratt, Punch's development director, said: "This deal sends out a message that despite completing a major pub chain purchase three months ago we are still committed to individual and small package acquisitions."

The company owns 9,600 leased, tenanted and managed pubs across the UK after its £2.8b swoop for rival Spirit Group last December.

Irrespective of the Spirit deal, it has added 57 pubs to its estate this financial year and expects to exceed 100 by August.

Karen Jones leaves Spirit Group >>

Punch Taverns completes Spirit purchase >>
By Chris Druce

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