Red Oak Taverns acquires eight pub estates in Bristol
The acquisition has grown the group’s estate to 208 pubs operating on a range of flexible agreements.
Red Oak Taverns has announced it has completed an acquisition of eight free of tie pubs in Bristol from Euphorium Pubs Limited for an undisclosed sum.
This marks the group’s fifth portfolio acquisition this year, with the independent pub operator growing its estate to 208 pubs operating on a range of flexible agreements.
Mark Grunnell and Aaron Brown founded Red Oak Taverns in 2011 and the pub estate comprises a mix of free of tie and tied pubs.
Euphorium were advised on the transaction by Kevin Conibear, divisional director at Fleurets, and Red Oak Taverns were not externally represented.
Mark Grunnell, co-founder and chief executive of Red Oak Taverns, said: “We are delighted to add these eight free of tie pubs located across Bristol to complement our already significant free of tie estate. 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.
“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.”
He added: “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.”
