Announced
Completed
Financials
Sources
Tags
Restaurants and Bars
United Kingdom
Private
Single Bidder
Completed
Private Equity
Acquisition
pub operator
Mbo
Synopsis
C&C Group, Proprium Capital Partners and Admiral Taverns' management agreed to buy the entire issued share capital of Admiral Taverns, which operates 845 primarily wet-led pubs across England, Wales and Scotland, from Cerberus Capital Management and its affiliates, for £78m. Commenting on the investment, Stephen Glancey, C&C CEO, said: "For C&C, this is an attractive opportunity to create a new long term investment in the important on-trade channel, without taking significant financial and operational risk. The investment will provide our brands with improved distribution in some of the best community pubs across the UK, with an opportunity to enhance on-trade penetration further over time.”
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