TDR-backed Stonegate Pub Company, a British pub company with 770 pubs and bars, made an offer to buy Revolution Bars Group, a city centre bar chain with headquarters in Ashton-under-Lyne, Greater Manchester, Englan, for £101.5m. The offer represented a premium of 62.4% to the Closing Price per Revolution Share of 125 pence on 28 July 2017. Commenting on the Offer, Ian Payne, Chairman of Stonegate, said: "We are delighted to announce this agreement with Revolution, which is a business we know well and whose leading position in the premium segment of the drinking out market is a highly complementary addition to our existing offering. Our strong reputation and position in the market firmly establishes Stonegate as the natural home for Revolution's brands, and will allow us to enhance further the breadth of offer and occasions we cater for."