Punch Pubs acquires further 14 pubs
The deal takes Punch’s total acquisitions in the last 12 months to more than 50 pubs
Punch Pubs and Co. has announced the acquisition of the Milton 1 and 2 portfolio from real estate investment company Aprirose, adding a further 14 pubs to its 1,300-strong estate.
The newly acquired pubs, currently operated by Blackrose Pubs, will benefit from Punch’s commitment to investment and development.
This is a separate and additional deal to the Milton 3 acquisition (24 pubs), which completed earlier this year.
Aprirose, together with its investment partners acquired the pubs originally five years ago.
The pubs include: The Anchor, Bexley; Shield and Dagger, Bristol; The Auction House, Coventry; The Lochside, Newcastle upon Tyne; Vesper Gate, Leeds; The Claro Beagle, Harrogate; The North Camp, Farnborough; The Village Inn, Swindon; The Vine, Uxbridge; The Wheatsheaf, Camberley; The Fox, Cambridge; The Woodlands, St. Helens; Game Cock Inn, Blackburn; The Royal Oak, Bolton.
The deal takes Punch’s total acquisitions in the last 12 months to more than 50 pubs.
Stephen Allen, Group Property director at Punch, said: “We are delighted to welcome these 14 fantastic pubs into the Punch family. This acquisition reflects our continued dedication to expanding and enhancing our portfolio.
“We look forward to investing in these pubs and supporting them with our industry-leading resources, ensuring their long-term success. Key to this will be Queensway Advisory, who are providing management services as the pubs join the Punch business.”
Manish Gudka, CEO of Aprirose, added: “This sale aligns with our strategic goal of exiting our operational pub platform and reallocating capital towards new opportunities we are actively pursuing across several sectors with a range of investor partnerships. We appreciate the hard work of Blackrose Pubs in managing these assets, and we are confident that the pubs will continue to thrive under Punch’s ownership.”
Daren Knipe, CEO of Blackrose Pubs, concluded: “We have been honoured to work with some incredible people over the years as we have developed these pubs into what they are today. We wish the managers and their teams the very best for the future, and we’re confident that Punch will continue to foster their growth.”