Red Oak Taverns, the independent pub operator, confirmed today that it has completed the acquisition of three pubs from Reclamation Inns for an undisclosed sum. The three pubs, The Great Western, Bewdley, The Railway in Alsager, Crewe and The Black Boy, Bridgnorth will be added to the pub company’s current portfolio of 177 pubs.
Speaking about the acquisition, co-founder and Chief Executive of Red Oak, Mark Grunnell said, “These sites are a perfect match for our business and are fantastic community pubs. We are looking forward to welcoming the tenant partners and their established businesses to our pub company in readiness for when we all reopen”.
Red Oak was founded in 2011 and has grown to 180 tenanted and free of tie sites since then with the most recent multiple acquisitions being from Wadworth and Reclamation Inns. Grunnell added, “We want to look beyond these difficult times and continue to invest in and grow our business. We are in a financially stable position and although the pandemic has slowed down our investment plans we are focused on looking for more pub acquisition opportunities now and in the future”.
Red Oak Taverns were advised on the acquisition by James A Baker.
ENDS
Notes to editors:
Background Red Oak Taverns
Formed in 2011 by Aaron Brown and Mark Grunnell, Red Oak Taverns is an entrepreneurial national pub company which comprises 180 mainly leased and tenanted pubs. The Company is privately-owned by its co-founders and a small number of like-minded individual investors. The pub estate is mainly concentrated in the South, South West, North West and the Midlands. Red Oak Taverns prides itself on its flexible partnerships with its Tenant Partners with the aim of developing long-lasting relationships.
Further details can be found on the Company’s website: www.redoaktaverns.com
Press release from Darls Communications on behalf of Red Oak Taverns.
For further press information on Red Oak Taverns contact:
Elaine Beckett
Phone – 07802 782115
E-mail – elaine@darlscommunications.co.uk
Date of issue: 19 January 2021