Red Oak Taverns acquires three pubs from Liberation Group
The acquisition comes as the company deploys the capital it has available following its refinancing to grow the business and add assets to the pub estate
Red Oak Taverns has completed the acquisition of three tied tenanted pubs from the Liberation Group, for an undisclosed sum.
The pubs are based in the South West of England and are operated by tenants under substantive agreements.
This marks the first portfolio acquisition for Red Oak since the major refinancing of the business in March to grow the business and add assets to its estate, such as this latest acquisition.
Red Oak Taverns said it continues to seek both small and larger portfolio opportunities.
Mark Grunnell, co-founder and chief executive of Red Oak Taverns, said: “We are pleased to be adding these pubs to our estate and look forward to welcoming the tenant partners to the Red Oak family. They fit very nicely into our South West estate which already has our largest concentration of Red Oak pubs in the UK.”
Red Oak Taverns was founded in 2011 by Mark Grunnell and Aaron Brown, and the pub estate comprises 209 free of tie and tied pubs.
