Thu, 23 Jun 2011 | MERGER
Stonegate Pub Company and Town & City Pub Company have merged to create a 560-public house portfolio.
Stonegate was created in November 2010 with 333 pubs that private equity firm TDR Capital purchased from Mitchells & Butlers for £373 million.
TDR Capital is to be the majority owner of the newly formed group called Stonegate Pub Company.
The first backers of Punch Tavern, TDR were behind the acquisition of a 1,428-pub estate from Bass in 1998. The private equity firm progressed to buy Pizza Express in 2003, joining ASK to become the Gondola Group – with 500 casual dining restaurants – in 2004.
Town & City Pub Company’s brands include Yates’s and the Slug and Lettuce. The new company, with a combined turnover of £500 million, will be a rival to JD Wetherspoon.
TDR Capital’s founding partner, Manjit Dale said, “Stonegate has developed into a leading pub operator with a high quality, well-located estate with over 300 pubs in most major towns and cities across the UK. Town & City has a strong customer proposition and will be an excellent complement to Stonegate.”
“It has been well stewarded through a very rough trading period by its banking consortium owners and we believe will further benefit from being owned by a dedicated, strong pub and leisure group,” He added.
Go to this page for news on pub company Bar Operations for sale by the administrators - http://www.business-sale.com/news/article/high-hopes-for-swift-sale-of-bar-operations-ltd-34990.html
Highly experienced team in place, with a suitable candidate to fill an upper-level management position, if required. Serves a large regional client base, with clients operating in industry sectors including education, healthcare and facilities.
Strong pipeline of future work, which is currently valued at £2m. Provides over 2,500 unique automotive engine components for a comprehensive range of leading brands, catering to OEMs and wholesalers worldwide.
SIA / Safe Contractor approved, manned security and accredited training course specialist with impressive nationwide reputation and client base.
24
|
Apr
|
Middlesbrough metal recycling firm acquired from administration | BUSINESS SALE
Cupral Group Limited, a metal recycling business based in Mi...
24
|
Apr
|
Automotive parts supplier secures PE backing | BUSINESS SALE
Rimmer Bros, a Lincoln-based restorer and supplier of replac...
24
|
Apr
|
Kitchen firm expands construction sector offering with new acquisition | BUSINESS SALE
Nolte Kitchens UK has completed the acquisition of contracts...
24
|
Apr
|
Kitchen firm expands construction sector offering with new acquisition | BUSINESS SALE
Nolte Kitchens UK has completed the acquisition of contracts...
24
|
Apr
|
Automotive parts supplier secures PE backing | BUSINESS SALE
Rimmer Bros, a Lincoln-based restorer and supplier of replac...
24
|
Apr
|
Middlesbrough metal recycling firm acquired from administration | BUSINESS SALE
Cupral Group Limited, a metal recycling business based in Mi...
Business Sale Report is your complete solution to finding great acquisition opportunities.
Join today to receive:
All this and much more, including the latest M&A news and exclusive resources
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.